By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – JPMorgan Chase Financial Co. LLC priced $357,000 of 0% capped dual directional contingent buffered equity notes due Feb. 1, 2024 tied to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the ETF finishes at or above the initial level, the payout at maturity will be par plus the return, capped at par plus 25%.
If the ETF falls but by no more than the 25% contingent buffer, the payout will be par plus the absolute value of the return.
If the ETF falls by more 25%, investors will lose 1% for each 1% decline of the ETF.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Capped dual directional contingent buffered equity notes
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Underlying ETF: | SPDR S&P 500 ETF trust
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Amount: | $357,000
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Maturity: | Feb. 1, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF gains, par plus the return, capped at par plus 25%; if ETF falls but by no more than 25% contingent buffer, par plus absolute value of return; if ETF falls by more than 25%, investors will lose 1% for each 1% decline of the ETF
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Initial level: | $321.17
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Contingent buffer: | 75% of initial level
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.05%
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Cusip: | 48132MSU6
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