JPMorgan plans trigger absolute return step notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Nov. 25 – JPMorgan Chase Financial Co. LLC plans to price 0% trigger absolute return step securities due Nov. 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the initial index level, the payout at maturity will be par of $10 plus the greater of the index return and the step return, which is expected to be at least 26% and will be set at pricing.

If the index finishes below the initial index level but at or above the downside threshold, 70% of the initial index level, the payout will be par plus the absolute value of the index return.

If the index finishes below the downside threshold, investors will be fully exposed to the index’s decline from its initial level.

The notes will be guaranteed by JPMorgan Chase & Co.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The notes will price on Nov. 26.

The Cusip number is 48132J843.

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