By Marisa Wong
Morgantown, W.Va., Sept. 6 – JPMorgan Chase Financial Co. LLC priced $7.27 million of 0% review notes due Sept. 16, 2022 linked to the worse 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 be called at par plus a call premium of 10.1% per year if each index closes at or above its initial level on any annual review date.
If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus the contingent minimum return of 10%.
Otherwise, investors will be fully exposed to the decline in the worse 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: | Review notes
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Underlying indexes: | Russell 2000, S&P 500
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Amount: | $7,269,000
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Maturity: | Sept. 16, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 10% unless either index finishes below trigger level, in which case par plus return of worse performing index with 1% loss for each 1% decline
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Call: | At par plus 10.1% per year if each index closes at or above initial level on any annual review date
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Initial levels: | 1,725.671 for Russell and 2,874.69 for S&P
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Trigger levels: | 1,207.9697 for Russell and 2,012.283 for S&P; 70% of initial levels
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Pricing date: | Aug. 24
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Settlement date: | Aug. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48129MS31
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