By Marisa Wong
Morgantown, W.Va., May 1 – JPMorgan Chase Financial Co. LLC priced $995,000 of 0% review notes due April 28, 2021 linked to the lesser performing of the Russell 2000 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 12% a year if each underlying closes at or above its initial level on any annual call date.
If the notes are not called and the final level of each underlying is greater than or equal to its trigger value, 60% of its initial level, the payout will be par plus the contingent minimum return of 10%.
Otherwise, investors will lose 1% for each 1% that the lesser performer finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
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| Underlyings: | Russell 2000, SPDR S&P Biotech ETF
|
| Amount: | $995,000
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| Maturity: | April 28, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 10% unless either underlying finishes below trigger level, in which case 1% loss per 1% decline of worse performer
|
| Call: | At par plus a call premium of 12% per year if each underlying closes at or above its initial level on any annual call date
|
| Initial levels: | 1,379.854 for index and $67.98 for fund
|
| Trigger levels: | 827.9124 for index and $40.788 for fund; 60% of initial levels
|
| Pricing date: | April 21
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| Settlement date: | April 28
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4%
|
| Cusip: | 46646Q5P6
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