By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – JPMorgan Chase Financial Co. LLC priced $18.8 million of 0% review notes due Jan. 23, 2020 linked to the Topix Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 12.25% if the index closes at or above its initial level on any annual review date.
If the notes are not called, the payout at maturity will be par unless the index finishes below its 75% contingent buffer level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Review notes
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| Underlying index: | Topix Banks
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| Amount: | $18.8 million
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| Maturity: | Jan. 23, 2020
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 12.25% per year if index closes at or above initial level on any annual review date
|
| Payout at maturity: | Par unless index finishes below contingent buffer, in which case 1% loss for each 1% decline
|
| Initial level: | 213.96
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| Contingent buffer: | 25%
|
| Pricing date: | Jan. 22
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| Settlement date: | Jan. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48129HXF9
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