By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – JPMorgan Chase Financial Co. LLC priced $933,000 of autocallable contingent interest notes due March 25, 2022 linked to the least 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 are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7.15% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par plus the final coupon unless either index finishes below its initial level and either index ever closes below the 70% trigger value during the life of the notes, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
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: | Russell 2000 index and S&P 500 index
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| Amount: | $933,000
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| Maturity: | March 25, 2022
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| Coupon: | 7.15% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus any coupon unless either index finishes below initial level and either index ever closes below trigger level, in which case 1% loss for each 1% decline of least performing index from initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the first and final dates
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| Initial levels: | 3,687.26 for S&P and 1,989.88 for Russell
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| Interest barrier: | 2,581.082 for S&P and 1,392.916 for Russell; 70% of initial levels
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| Trigger levels: | 2,581.082 for S&P and 1,392.916 for Russell; 70% of initial levels
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48132PU85
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