Chicago, Oct. 15 – JPMorgan Chase Financial Co. LLC priced $3.04 million of 0% review notes due April 1, 2021 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 will be automatically called at par plus a call premium of 9% per year if each index closes at or above its initial level on a semiannual review date.
If the notes are not called, meaning neither index has finished above its initial level, and the final level of each index is greater than or equal to its buffer value, 80% of its initial level, the payout will be par plus the contingent minimum return of 11.4%.
Otherwise, investors will lose 1.25% for each 1% that the lesser-performing index declines beyond 20%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $3,039,000
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| Maturity: | April 1, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 11.4% if not called, meaning neither index finished above initial value, if final level of each index is greater than or equal to its buffer value; investors will lose 1.25% for each 1% that the lesser-performing index declines beyond 20%
|
| Call: | Automatically at par plus call premium of 9% per year if each index closes at or above initial level on a semiannual observation date
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| Initial levels: | 1,520.476 for Russell 2000 and 2,961.79 for S&P 500
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| Buffer values: | 80% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Oct. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.1%
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| Cusip: | 48132FRS7
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