JPMorgan changes call value, removes trigger for review notes on indexes

By Sarah Lizee

Olympia, Wash., Oct. 24 – JPMorgan Chase Financial Co. LLC changed the call values and removed the trigger for its planned 0% review notes due Oct. 31, 2024 linked to the worse performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an amended 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of at least 11.55% if each index closes at or above its initial level on any of the first five annual review dates, and at or above 70% of the initial level on the final review date. Previously, the call value was the initial level for all review dates.

If the notes are not called, the payout at maturity will be par plus the return of the least performing index, with full exposure to losses.

Previously, if the notes were not called, the payout at maturity would be par unless any underlying index finished below 70% trigger level, in which case investors would be fully exposed to the decline of the worst performing index.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on Oct. 26 and settle on Nov. 2.

The Cusip number is 48130UM69.

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