By William Gullotti
Buffalo, N.Y., May 13 – JPMorgan Chase Financial Co. LLC priced $2.43 million of 0% capped dual directional barrier notes due May 15, 2023 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index finishes at or above their initial levels, the payout at maturity will be par plus the gain of the least performing index, subject to a maximum payout of par plus 8.86%.
If the index falls but each index finishes at or above 75% of its initial level, the payout will be par plus the absolute value of the least performing index return.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped dual directional barrier notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,425,000
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| Maturity: | May 15, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above initial level, par plus return of the index capped at 8.86%; if the index declines but finishes at or above barrier level, par plus absolute value of the index’s return; otherwise, 1% loss for each 1% decline of the index from initial level
|
| Initial index level: | 4,001.05 for S&P
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| Barrier level: | 3,000.7875; 75% of initial level
|
| Pricing date: | May 10
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| Settlement date: | May 13
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.62943%
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| Cusip: | 48133GAH6
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