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JPMorgan to price step-up review notes tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., March 12 – JPMorgan Chase Financial Co. LLC plans to price 0% step-up review notes due Sept. 17, 2026 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 11.5% per year if each index closes at or above its call level on any quarterly call date.
The call level will be at most 102.5% on the first review date, stepping up by 62.5 basis points on each quarterly review date.
If the notes are not called, the payout at maturity will be par unless the final level of either index is less than its initial level by more than 40%, in which case investors will lose 1% for each 1% that the lesser-performing index declines.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 13.
The Cusip number is 48132KJQ9.
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