By Wendy Van Sickle
Columbus, Ohio, June 6 – JPMorgan Chase Financial Co. LLC priced $3.89 million of callable contingent interest notes due May 30, 2024 linked to the lesser performing of the Russell 2000 index and the Dow Jones industrial average, 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 6% if each index closes at or above its interest barrier level, 60% 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 first, second, third and final dates.
If the notes have not been called, the payout at maturity will be par plus the coupon unless either index finishes below its 69% trigger level, 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000 and Dow Jones industrial average
|
| Amount: | $3,889,000
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| Maturity: | May 30, 2024
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| Coupon: | 6% 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 its trigger level, 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 first, second, third and final dates
|
| Initial values: | 24,361.45 for Dow, 1,623.649 for Russell
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| Interest barrier/triggers: | 14,616.87 for Dow, 974.1894 for Russell; 60% of initial levels
|
| Pricing date: | May 29
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| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
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| Cusip: | 48129MSK3
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