JPMorgan Chase Financial Company LLC is offering $831,000 of callable contingent-interest notes linked to the least performing of three indexes, with payments of $7.875 per $1,000 note when each index stays at or above its 70.00% barrier. The structure matters because payments are conditional, early Redemption is possible, and estimated value is below issue price.

Key Highlights

  • JPMorgan Chase Financial Company LLC is the issuer, while JPMorgan Chase & Co provides a full and unconditional guarantee.
  • The notes are linked to the Nasdaq-100 Technology Sector Index, Russell 2000 Index and S&P 500 Index.
  • Each $1,000 note may pay $7.875 on an applicable Interest Payment Date when all three indexes meet their 70.00% Interest Barriers.

$831,000 Note Offering Sets Conditional Payments

JPMorgan Chase & Co is classified as a Banks - Diversified company. The notes have a public price of $1,000 per note. That amount includes $22.25 in selling commissions, leaving $977.75 as proceeds to the issuer per note; across the offering, total commissions are $18,489.75 and issuer proceeds are $812,510.25. Each $1,000 note can pay $7.875 on an applicable Interest Payment Date when the closing level of every index reaches at least its 70.00% Interest Barrier. The stated contingent Interest Rate is 9.45% per annum, paid at a rate of 0.7875% per month.

Estimated Value Below Original Issue Price

The estimated value when the terms were set was $962.60 per $1,000 note, below the $1,000 public price. The notes are not bank deposits and do not carry insurance from the Federal Deposit Insurance Corporation or another governmental agency. The pricing supplement says the difference between estimated value and public price includes selling, structuring and hedging costs, projected affiliate profits, and possible third-party data-service fees. It also says published values may remain above then-current estimated value for a limited period.