By Devika Patel
Knoxville, Tenn., June 14 – JPMorgan Chase Financial Co. LLC priced $372,000 of uncapped dual directional notes due May 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the index gain and the contingent minimum return of 28%.
If the index falls by up to the 30% contingent buffer, the payout will be par plus the absolute value of the return.
If the index falls by more than the 30%, investors will lose 1% for each 1% decline of the index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Uncapped dual directional notes
|
| Underlying index: | S&P 500
|
| Amount: | $372,000
|
| Maturity: | May 31, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus greater of return and 28%; if index falls by up to 30%, par plus absolute return; otherwise, 1% loss for each 1% decline from initial level
|
| Initial level: | 2,411.80
|
| Contingent buffer: | 30%
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.61962%
|
| Cusip: | 46647MBD4
|
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