By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $19.77 million of callable contingent interest notes due Feb. 28, 2023 linked to the least performing of the S&P 500 index 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 5% if each index closes at or above its trigger level, 55% of its initial level, on the review date for that quarter.
The notes may be called in whole at par 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 unless either index finishes below its 55% trigger level, in which case investors will lose 1% for every 1% decline of the worst 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
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| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $19,767,000
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| Maturity: | Feb. 28, 2023
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| Coupon: | 5% per year, payable each quarter that 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 every 1% decline of worst-performing index
|
| Call: | At par on any interest payment date other than first and final dates
|
| Initial levels: | 2,425.55 for S&P and 1,357.79 3 for Russell
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| Trigger levels: | 1,334.0525 for S&P and 746.78615 for Russell; 55% of initial levels
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 25
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 46647MF32
|
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