By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – JPMorgan Chase Financial Co. LLC priced $622,000 of callable contingent interest notes due Aug. 7, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing 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 7.75% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes may be called at par plus the coupon in whole but not in part on any interest payment date other than the final date.
If the notes have not been called, the payout at maturity will be par plus the coupon unless either index finishes below its initial level and either closes below its 50% trigger level during the life of the notes, in which case investors will lose 1% for every 1% decline of the lesser-performing index from 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.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $622,000
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| Maturity: | Aug. 7, 2019
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| Coupon: | 7.75% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless either index finishes below initial level and either closes below its trigger level during life of notes, in which case 1% loss for every 1% decline of lesser-performing index from initial level
|
| Call: | Callable at par plus coupon on any quarterly review date other than final date
|
| Initial levels: | 1,574.982 for Russell and 2,823.81 for S&P
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| Interest barriers: | 1,102.4874 for Russell and 1,976.667 for S&P; 70% of initial levels
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| Trigger values: | 1,102.4874 for Russell and 1,976.667 for S&P; 70% of initial levels
|
| Pricing date: | Jan. 31
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| Settlement date: | Feb. 7
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
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| Cusip: | 48129HM20
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