By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – JPMorgan Chase Financial Co. LLC priced $6.23 million of callable contingent interest notes due Feb. 2, 2021 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 are guaranteed by JPMorgan Chase & Co.
Every quarter, the notes will pay a contingent coupon at an annual rate of 6.25% if each index closes at or above its trigger value, 60% of its initial level, on the review date for that quarter.
The notes are callable at par on any interest payment date other than the first, second, third 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 value, 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $6,231,000
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| Maturity: | Feb. 2, 2021
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| Contingent coupon: | 6.25% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger value during life of notes and either index finishes below trigger level
|
| Call: | Callable at par on any interest payment date other than first, second, third and final dates
|
| Initial index levels: | 2,296.68 for S&P 500 and 1,375.595 for Russell 2000
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| Trigger values: | 1,378.008 for S&P 500 and 825.357 for Russell 2000; 60% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.078%
|
| Cusip: | 46646QJD8
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