By Sarah Lizee
Olympia, Wash., May 2 – JPMorgan Chase Financial Co. LLC priced $947,000 of step-up autocallable contingent buffered equity notes due May 3, 2024 linked to the lesser 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 automatically called at par of $1,000 plus a 7.5% annual call premium if each index closes at or above its call level on an annual review date other than the final date. The call level will be 103% of the initial level on the first review date and will step up by 3% per year to 112% on the fourth review date.
The payout at maturity will be par plus any gain of the lesser-performing index.
Investors will receive par if either index falls by up to 50% and will otherwise lose 1% for each 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
|
| Issue: | Step-up autocallable contingent buffered equity notes
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $947,000
|
| Maturity: | May 3, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any gain of the lesser-performing index; par if either index falls by up to 50%, otherwise 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call: | Automatically called at par plus call premium of 7.5% per year if each index closes at or above its call level on an annual review date other than final date; call level will be 103% of the initial level on the first review date and will step up by 3% per year to 112% on the fourth review date
|
| Initial levels: | 1,591.211 for Russell and 2,945.83 for S&P 500
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48132CCS0
|
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