By Sarah Lizee
Olympia, Wash., March 25 – JPMorgan Chase Financial Co. LLC priced $2 million of 0% step-up review notes due Sept. 17, 2026 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 14% per year if each index closes at or above its call level on any quarterly call date.
The call level will be 102.5% on the first review date, stepping up by 62.5 basis points on each quarterly review date.
If the notes are not called, the payout at maturity will be par unless the final level of either index is less than its initial level by more than 40%, in which case investors will lose 1% for each 1% that the lesser-performing index declines.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Step-up review notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $2 million
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| Maturity: | Sept. 17, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless the final level of either index is less than its initial level by more than 40%, in which case investors will lose 1% for each 1% that the lesser-performing index declines
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| Call: | Automatically called at par plus a call premium of 14% per year if each index closes at or above its call level on any quarterly call date; call level will be 102.5% on the first review date, stepping up by 62.5 basis points on each quarterly review date
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| Initial levels: | 2,711.02 for S&P 500 and 1,210.135 for Russell 2000
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| Trigger levels: | 60% of initial levels
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48132KJP1
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