By Sarah Lizee
Olympia, Wash., July 29 – JPMorgan Chase Financial Co. LLC priced $700,000 of 0% review notes due July 29, 2024 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 will be automatically called at par plus a call premium of 8.1% per year if each index closes at or above its initial level on any of five annual review dates.
If the notes are not called and the final level of each index is greater than or equal to its buffer value, 80% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% that the lesser-performing index declines beyond 20%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $700,000
|
| Maturity: | July 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par final level of each index is greater than or equal to its buffer value; investors will lose 1% for each 1% that the lesser-performing index declines beyond 20%
|
| Call: | Automatically at par plus call premium of 8.1% per year if each index closes at or above initial level on any annual observation date
|
| Initial levels: | 1,580.417 for Russell 2000 and 3,019.56 for S&P 500
|
| Buffer values: | 80% of initial levels
|
| Pricing date: | July 25
|
| Settlement date: | July 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 48132C4Y6
|
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