By Wendy Van Sickle
Columbus, Ohio, April 29 – JPMorgan Chase Financial Co. LLC priced $1.62 million of 0% autocallable contingent buffered equity notes due April 30, 2024 linked to the least performing of 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.
The notes will be called at par plus a 7.25% annual call premium if each index closes at or above its call level on any annual review date other than the final date. The call level will be 101% of the initial level on the first review date and will step up by 100 basis points each year.
If each index finishes above its initial level, the payout at maturity will be par plus the gain.
If the either index falls but by no more than 40%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-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: | Autocallable contingent buffered equity notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,621,000
|
| Maturity: | April 30, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above its initial level, par plus gain; if either index falls by up to 40%, par; otherwise, 1% loss for each 1% decline of least-performing index from initial level
|
| Call: | At par plus 7.25% annual call premium if each index closes at or above call level on any annual review date other than the final date
|
| Call level: | 101% of initial level on first review date with step-ups of 100 bps a year
|
| Initial levels: | 2,926.17 for S&P, 1,575.612 for Russell
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.02606%
|
| Cusip: | 48130WQ79
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