By Sarah Lizee
Olympia, Wash., Jan. 23 – JPMorgan Chase Financial Co. LLC priced $550,000 of callable range accrual notes due Jan. 25, 2021 linked to Five-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly and will accrue at 9.25% for each day that the ICE swap rate is at or above the minimum level of 2.052%.
The payout at maturity will be par unless the rate finishes below its barrier level of 2.052%, in which case investors will be fully exposed to the proportional decline of the rate from its strike level of 2.565%.
The notes are callable at par on any quarterly redemption date starting on July 23.
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: | Callable range accrual notes
|
| Underlyings: | Five-year U.S. dollar ICE swap rate
|
| Amount: | $550,000
|
| Maturity: | Jan. 25, 2021
|
| Coupon: | 9.25% annualized for each day that the ICE swap rate is at least 2.052%, payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par unless rate finishes below barrier level, in which case proportional exposure to decline from strike level
|
| Call option: | At par on any quarterly redemption date beginning on July 23
|
| Strike level: | 2.565%
|
| Barrier level: | 2.052%
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48130UPU3
|
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