By Sarah Lizee
Olympia, Wash., May 4 – JPMorgan Chase Financial Co. LLC priced $6.85 million of 0% review notes due May 1, 2025 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 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 18.8% per year if each index closes at or above its initial level on any quarterly call 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: | Review notes
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| Underlying indexes: | Dow Jones industrial average and Russell 2000
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| Amount: | $6.85 million
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| Maturity: | May 1, 2025
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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 at par plus call premium of 18.8% per year if each index closes at or above initial level on any quarterly call date
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| Initial levels: | 1,298.083 for Russell and 24,101.55 for Dow
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| Buffer levels: | 60% of initial levels
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| Pricing date: | April 28
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| Settlement date: | April 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.83%
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| Cusip: | 48132KXJ9
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