JPMorgan Chase Offers Callable Contingent Interest Notes Linked to Nasdaq-100 Technology Sector IndexSM
JPMorgan Chase & Co. has introduced a new financial product called Callable Contingent Interest Notes Linked to the Least Performing of the Nasdaq-100 Technology Sector IndexSM, S&P 500 Index and iShares Silver Trust.
The notes are designed for investors seeking a contingent interest payment with respect to each review date if the closing value of each underlying is greater than or equal to 60.00% of its initial value, known as an Interest Barrier.
If the notes have not been previously redeemed early and the closing value of each Underlying on any Review Date is greater than or equal to its Interest Barrier, investors will receive a Contingent Interest Payment equal to $12.4583 (equivalent to a 14.95% per annum, payable at a rate of 1.24583% per month) for each $1,000 principal amount note on the applicable Interest Payment Date.
The notes may be redeemed early by JPMorgan Financial in whole but not in part, on any of the Interest Payment Dates (other than the first through fifth and final Interest Payment Dates), with a price equal to (a) $1,000 plus (b) the Contingent Interest Payment, if any, applicable to the immediately preceding Review Date.