By Wendy Van Sickle
Columbus, Ohio, March 27 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% review notes due March 26, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 6.7% a year if the index closes at or above its initial level on any annual call date.
If the notes are not called and the final level of the index is greater than or equal to its buffer level, 90% of its initial level, the payout will be par.
Otherwise, investors will lose 1.1111% for each 1% that the index falls beyond 10%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlying index: | S&P 500
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| Amount: | $1 million
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| Maturity: | March 26, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless index finishes below 90% buffer level, in which case 1.1111% loss per 1% loss beyond 10%
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| Call: | At par plus a call premium of 6.7% per year if index closes at or above its initial level on any annual call date
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| Initial level: | 2,345.96
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 46646QZ81
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