By Susanna Moon
Chicago, July 19 – JPMorgan Chase Financial Co. LLC priced $940,000 of callable contingent interest notes due July 18, 2023 linked to the lesser performing of the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each fund closes at or above its 70% coupon barrier on the review date for that period.
The notes are callable at par on any interest payment date other than the final date.
The payout at maturity will be par unless either fund finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing fund.
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: | Callable contingent interest notes
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| Underlying funds: | iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust
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| Amount: | $940,000
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| Maturity: | July 18, 2023
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| Coupon: | 7% annualized, payable semiannually if each fund closes at or above 70% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either fund closes below 65% trigger, in which case 1% loss for each 1% decline of worse performing fund
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| Call option: | At par on any interest payment date other than final date
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| Initial levels: | $167.42 for Russell fund, $279.59 for S&P fund
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| Coupon barriers: | $117.194 for Russell fund, $195.713 for S&P fund, 70% of initial levels
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| Trigger levels: | $108.823 for Russell fund, $181.7335 for S&P fund, 65% of initial levels
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| Pricing date: | July 13
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| Settlement date: | July 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129MN28
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