By Wendy Van Sickle
Columbus, Ohio, June 30 – JPMorgan Chase Financial Co. LLC priced $613,000 of autocallable contingent interest notes due June 26, 2025 tied 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.
Each quarter, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying indexes: | S&P 500 index and Russell 2000 index
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Amount: | $613,000
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Maturity: | June 26, 2025
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Coupon: | 7.25% per year, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
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Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date other than the final one
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Initial levels: | 3,131.39 for S&P and 1,439.388 for Russell
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Interest barriers: | 1,878.774 for S&P and 863.6028 for Russell; 70% of initial levels
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Trigger levels: | 1,878.774 for S&P and 863.6028 for Russell; 70% of initial levels
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Pricing date: | June 23
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Settlement date: | June 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.125%
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Cusip: | 48132MMH1
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