By William Gullotti
Buffalo, N.Y., June 15 – JPMorgan Chase Financial Co. LLC priced $1.18 million of 0% uncapped buffered return enhanced notes due June 12, 2024 linked to the stock performance of Citigroup Inc. and Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
If each stock gains, the payout at maturity will be par plus 1.61 times the return of the lesser-performing stock.
If either stock finishes flat or falls by up to 10%, the payout will be par.
If either stock falls by more than 10%, investors will lose 1% for every 1% that the lesser-performing stock declines beyond the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Uncapped buffered return enhanced notes
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| Underlying stocks: | Citigroup Inc., Morgan Stanley
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| Amount: | $1.18 million
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| Maturity: | June 12, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock gains, par plus 1.61 times return of lesser-performing stock; par if either stock finishes flat or falls up to buffer; 1% loss for every 1% that lesser-performing stock declines beyond buffer
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| Initial levels: | $85.33 for Morgan Stanley, $52.10 for Citigroup
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| Buffer levels: | 90% of initial levels
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| Pricing date: | June 7
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| Settlement date: | June 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48133GXV0
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