By Tali Rackner
Norfolk, Va., Dec. 30 – JPMorgan Chase Financial Co. LLC priced $190,000 of callable contingent interest notes due Jan. 5, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Every quarter, the notes pay a contingent coupon at an annual rate of 5% if each index closes at or above its barrier level, 50% of its initial level, on the review date that quarter.
The notes are callable at par on any interest payment date other than the first and final interest payment dates.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger level, in which case investors will be fully exposed to the decline of the lesser-performing index.
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: | Callable contingent interest notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $190,000
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| Maturity: | Jan. 5, 2021
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| Contingent coupon: | 5% per year, payable quarterly if each index closes at or above barrier level on review date that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to decline of lesser-performing index
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| Call: | Callable at par on any interest payment date other than first and final dates
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| Initial index levels: | 2,268.88 for S&P and 1,377.707 for Russell
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| Barrier/trigger levels: | 1,134.44 for S&P and 688.8535 for Russell; 50% of initial levels
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| Pricing date: | Dec. 27
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| Settlement date: | Dec. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 46646QEW1
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