By William Gullotti
Buffalo, N.Y., Oct. 10 – JPMorgan Chase Financial Co. LLC priced $1.07 million of 0% capped buffered equity notes due April 10, 2024 linked to the lesser performing of the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final level of each ETF is greater than its initial level, the payout at maturity will be par plus the lesser-performing ETF’s return, capped at 51.3%.
If the final level of either ETF is less than its initial level by up to 15%, par.
If the final level of either ETF is less than its initial level by more than 15%, investors will lose 1% for every 1% that the lesser-performing ETF declines beyond 15%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped buffered equity notes
|
| Underlying funds: | SPDR S&P 500 ETF Trust, Invesco QQQ Trust, Series 1
|
| Amount: | $1,073,000
|
| Maturity: | April 10, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each ETF is greater than its initial level, par plus lesser-performing ETF’s return, capped at 51.3%; if lesser-performing ETF falls by up to 15%, par; if final level of either ETF is less than initial level by more than 15%, 1% loss for every 1% that lesser-performing ETF declines beyond 15%
|
| Initial levels: | $377.09 for SPDR, $281.98 for QQQ
|
| Buffer levels: | 85% of initial levels
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 48133NYQ5
|
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