By Wendy Van Sickle
Columbus, Ohio, April 4 – JPMorgan Chase Financial Co. LLC priced $2.59 million of 0% step-up autocallable buffered equity notes due March 31, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index closes at or above its initial level on any annual call observation dates, the notes will be automatically called at par plus a 8.75% annualized call premium. The call level is 104% of the initial level on the first review date and steps up by 4% each subsequent year.
If the notes are not called and each index return is positive, the payout at maturity will be par plus the return of the lesser-performing index.
If the lesser-performing index falls by up to 50%, the payout will be par. If the lesser-performing index falls by more than 50%, investors will lose 1% for every 1% decline of lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Step-up autocallable buffered equity notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $2,591,000
|
| Maturity: | March 31, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing index return is zero or positive, par plus return of lesser-performing index; if lesser-performing index falls by up to 50%, par; if lesser-performing index falls by more than 50%, 1% loss for every 1% decline of lesser-performing index
|
| Call: | Automatically at par plus a call premium of 8.75% a year if index closes at or above its call level on any annual call observation dates; call level is 104% of initial level on first observation date and steps up by 4% each subsequent year
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| Initial levels: | 1,543.717 for Russell and 2,658.55 for S&P
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | JPMorgan Securities LLC
|
| Fees: | 4.08245%
|
| Cusip: | 48129MBA3
|
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