By William Gullotti
Buffalo, N.Y., March 29 – JPMorgan Chase Financial Co. LLC priced $2 million of 0% capped notes due March 28, 2024 linked to the performance of the dollar relative to the Hong Kong dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Per $1,000 principal amount of notes, the payout at maturity will be par plus the additional amount, which may be zero and will not be greater than $6,750.
Accordingly, the maximum payment is $7,750 per $1,000 principal amount.
The additional amount will be $1,000 multiplied by the reference currency return multiplied by 675%.
The reference currency return is the quotient of (a) the ending spot rate minus the strike rate divided by (b) the ending spot rate. The reference currency return will be positive if the dollar appreciates relative to the Hong Kong dollar.
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 notes
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| Underlying currency: | Dollar measured relative to Hong Kong dollar
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| Amount: | $2 million
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| Maturity: | March 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus additional amount, which may be zero and will not be greater than $6,750
|
| Additional amount: | $1,000 multiplied by reference currency return multiplied by 675%; reference currency return is quotient of (a) ending spot rate minus strike rate divided by (b) ending spot rate
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| Strike rate: | 8 Hong Kong dollars per dollar (not equal to spot rate on pricing date)
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| Ending spot rate: | Spot rate on March 25, 2024
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48133DD72
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