By Wendy Van Sickle
Columbus, Ohio, Sept. 12 – JPMorgan Chase Financial Co. LLC priced $1.63 million of callable contingent interest notes due Sept. 15, 2021 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 4.5% if each index closes at or above its 50% coupon barrier on review date for that month.
The notes are callable at par plus the contingent coupon on any quarterly optional call date after one year.
The payout at maturity will be par unless any index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is a distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Dow Jones Industrial Average
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| Amount: | $1.63 million
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| Maturity: | Sept. 15, 2021
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| Coupon: | 4.5% annualized, payable monthly if each index closes at or above 50% coupon barrier on review date that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any index finishes below 50% trigger, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any quarterly optional call date after a year
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| Initial levels: | 1,399.429 for Russell, 2,461.43 for S&P and 21,797.79 for Dow
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| Triggers: | 699.7145 for Russell, 1,230.715 for S&P and 10,898.895 for Dow; 50% of initial levels
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 15
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as distributor
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| Fees: | None
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| Cusip: | 46647M5E9
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