By William Gullotti
Buffalo, N.Y., Nov. 9 – JPMorgan Chase Financial Co. LLC priced $1.73 million of 0% capped buffered enhanced participation equity notes due May 8, 2024 linked to the Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the ETF return greater than the initial level, the payout at maturity will be par plus 1.5 times the ETF return, subject to a maximum settlement amount of par plus 25.575%.
If the ETF return is flat, or greater than or equal to the 90% buffer level, investors will receive par.
If the ETF falls by more than 10%, investors will lose 1.1111% for each 1% decline beyond the buffer.
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 buffered enhanced participation equity notes
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| Underlying fund: | Health Care Select Sector SPDR Fund
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| Amount: | $1,725,000
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| Maturity: | May 8, 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 1.5 times the gain, capped at par plus 25.575%; if the ETF is flat, or greater than or equal to the 90% buffer level, par; if the ETF falls below the 10% buffer, investors will lose 1.1111% for each 1% decline beyond 10%
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| Initial level: | $130.81
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| Buffer level: | 90% of initial ETF level
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| Pricing date: | Nov. 4
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| Settlement date: | Nov. 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.51%
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| Cusip: | 48133PLQ4
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