By Sarah Lizee
Olympia, Wash., July 8 – JPMorgan Chase Financial Co. LLC priced $6.9 million of 0% dual directional buffered participation securities due Jan. 5, 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will par of $10 plus the return of the index, subject to a maximum return of par plus 10.8%.
If the index falls but by no more than the 10% buffer, the payout will be par of $10 plus the absolute value of the return.
If the index falls by more than 10%, investors will lose 1% for every 1% beyond the 10% buffer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional buffered participation notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $6,904,120
|
| Maturity: | Jan. 5, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus index return, subject to a maximum return of par plus 10.8%; if the index falls but by no more than 10%, par of $10 plus absolute value of return; if the index falls by more than 10%, investors will lose 1% for each 1% decline beyond buffer
|
| Initial level: | 26,599.96
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.5%
|
| Cusip: | 48132E612
|
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