New Issue: JPMorgan prices $5.45 million review notes linked to S&P 500, Russell

By Devika Patel

Knoxville, Tenn., March 22 – JPMorgan Chase & Co. priced $5.45 million of 0% review notes due March 23, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 12% per year if each index closes above its initial level on any annual call review date.

If the notes are not called, the payout at maturity will be par plus 10% if each index closes at or above 70% of its initial level. If either index drops below the 70% trigger level, investors will be fully exposed to the loss of the worse performing index.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Review notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$5,446,000
Maturity:	March 23, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 10% if each index closes at or above 70% of its initial level, in which case full exposure to loss
Call:	At par plus an annualized premium of 12% if each index closes at or above its initial level on any annual review date
Initial levels:	2,049.58 for S&P, 1,101.673 for Russell
Trigger levels:	1,434.706 for S&P, 771.1711 for Russell, 70% of initial levels
Pricing date:	March 18
Settlement date:	March 28
Agent:	J.P. Morgan Securities LLC
Fees:	2.3%
Cusip:	48128GPM6

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