By Wendy Van Sickle
Columbus, Ohio, July 28 – JPMorgan Chase Financial Co. LLC priced $337,000 of callable yield notes due Aug. 2, 2022 linked to the worst 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 interest rate will be 4.5% per year, and interest will be payable monthly.
Beginning Aug. 2, 2018, the notes will be callable quarterly at par.
The payout at maturity will be par unless either index finishes below its buffer level, 85% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its buffer level.
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: | Callable yield notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $337,000
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| Maturity: | Aug. 2, 2022
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| Coupon: | 4.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below buffer, in which case 1% loss for every 1% decline of worse performing index beyond buffer
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| Call option: | Quarterly at par beginning Aug. 2, 2018
|
| Initial levels: | 2,477.83 for S&P, 1,442.279 for Russell
|
| Buffer levels: | 85% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46647MWA7
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