By Devika Patel
Knoxville, Tenn., Feb. 28 – JPMorgan Chase Financial Co. LLC priced $6.46 million of callable contingent interest notes due March 2, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.25% if each index closes at or above its trigger level, 62.5% of its initial level, on the review date for that quarter.
The notes may be called at par in whole but not in part on any interest payment date other than the first, second, third and final ones.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its 62.5% trigger level, in which case investors will lose 1% for every 1% decline of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $6,463,000
|
| Maturity: | March 2, 2021
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 6.25% if each index closes at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 62.5% of its initial value, in which case 1% loss for every 1% decline of worst-performing index
|
| Call: | At par on any interest payment date other than the first, second, third and final ones
|
| Initial levels: | 2,363.81 for S&P 500, 1,394.623 for Russell 2000
|
| Trigger levels: | 1,477.38125 for S&P 500, 871.63938 for Russell 2000; 62.5% of initial levels
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.1437%
|
| Cusip: | 46646QYK5
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