By Wendy Van Sickle
Columbus, Ohio, June 22 – JPMorgan Chase Financial Co. LLC priced $1.1 million of contingent interest notes due March 15, 2023 linked to the performance of 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 pay a contingent monthly coupon at a rate of 5.6% per year, equivalent to 4.2% for the term, if the index closes at or above its trigger level, 80% of its initial level, on the review date for that period.
The payout at maturity will be par plus the final coupon unless the index finishes below its 80% trigger value, in which case investors will lose 1% for every 1% decline beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent interest notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,096,000
|
| Maturity: | March 15, 2023
|
| Coupon: | 5.6% annual rate, or 4.2% for the term, payable monthly if the index closes at or above its trigger level on the review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless the index finishes below its trigger value, in which case investors will lose 1% for every 1% decline beyond 20%
|
| Initial level: | 3,900.86
|
| Trigger level: | 3,120.688; 80% of initial level
|
| Strike date: | June 10
|
| Pricing date: | June 14
|
| Settlement date: | June 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.45%
|
| Cusip: | 48133G2Z5
|
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