By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – JPMorgan Chase Financial Co. LLC priced $550,000 of callable contingent interest notes due Nov. 3, 2021 linked to the least performing of the S&P 500 index and the S&P 500 Pure Value index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The S&P 500 Pure Value index is designed to track the performance of stocks in the S&P 500 index that exhibit the strongest value characteristics by reference to book value to price ratio, earnings to price ratio and sales to price ratio.
Each quarter, the notes will pay a contingent coupon at an annual rate of 4% if each index closes at or above its interest barrier, 60% of its initial level, on the review date for that quarter.
The notes may be called in whole at par on any interest payment date other than the first, second, third and final dates.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will lose 1% for every 1% decline of the worst performing index.
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 indexes: | S&P 500, S&P 500 Pure Value
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| Amount: | $550,000
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| Maturity: | Nov. 3, 2021
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| Coupon: | 4% per year, payable each quarter that each index closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss for every 1% decline of worst-performing index
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| Call: | At par on any interest payment date other than first, second, third and final dates
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| Initial levels: | 2,581.07 for S&P and 6,300.84 for S&P 500 Pure Value
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| Interest barriers/triggers: | 1,626.443 for S&P 500 and 3,780.504 for S&P 500 Pure Value; 60% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48129HHR1
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