By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – JPMorgan Chase Financial Co. LLC priced $1.94 million of callable contingent interest notes due Jan. 3, 2022 linked to the lesser performing of the Dow Jones Industrial Average and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7% if each index closes at or above its trigger level, 65% of its initial level, on the review date for that quarter.
The notes may be called at par in whole but not in part on any interest payment date other than the first and final dates.
If the notes have not been called, the payout at maturity will be par if both indexes close at or above their trigger levels, 65% of the initial levels.
Otherwise investors will lose 1% for each 1% decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Indexes: | Dow Jones Industrial Average and Russell 2000
|
| Amount: | $1.94 million
|
| Maturity: | Jan. 3, 2022
|
| Coupon: | Notes pay quarterly contingent coupon at annual rate of 7% if each index closes at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss for each 1% decline of lesser-performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final dates
|
| Initial levels: | 19,945.04 for Dow and 1,377.707 for Russell
|
| Trigger levels: | 12,964.276 for Dow and 895.50955 for Russell; 65% of initial levels
|
| Pricing date: | Dec. 27
|
| Settlement date: | Dec. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 46646QEV3
|
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