By Susanna Moon
Chicago, June 26 – JPMorgan Chase & Co. priced $750,000 callable range accrual notes due June 26, 2030 linked to the 30-year Constant Maturity Swap rate, the two-year CMS rate and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at a rate for each day that the spread of the 30-year CMS rate over the two-year CMS rate is at least zero and the index closes at or above the 75% barrier level.
The rate will be 6% for first five years, stepping up to 7% for years six through 10 and to 8% after that. Interest will be payable quarterly.
The payout at maturity will be par.
The notes are callable at par plus accrued interest on any quarterly redemption date after five years.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable range accrual notes
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| Underlyings: | Euro Stoxx 50, 30-year CMS rate, two-year CMS rate
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| Amount: | $750,000
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| Maturity: | June 26, 2030
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| Coupon: | For each day that spread of 30-year CMS rate over two-year CMS rate is at least zero and index closes at or above 75% barrier level, 6% for first five years, stepping up to 7% for years six through 10 and to 8% after that; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any interest payment date beginning June 26, 2020
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| Initial level: | 3,610.95
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| Pricing date: | June 24
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| Settlement date: | June 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.583%
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| Cusip: | 48125UTC6
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