By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – JPMorgan Chase Financial Co. LLC priced $1.78 million of 0% digital notes due Aug. 31, 2020 linked to the least performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if on any day of the life of the notes the closing level of either index is less than 70% of its initial level.
If a trigger event has not occurred, the payout at maturity will be par plus a 7% digital return.
If a trigger event has occurred, the payout at maturity will be par if the final value of both indexes is greater than or equal to their initial values.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
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: | Digital notes
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| Underlying indexes: | Nasdaq-100 and S&P 500
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| Amount: | $1.78 million
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| Maturity: | Aug. 31, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If neither index closes below 70% trigger during the life of the notes, par plus 7% digital return; if either index closes below 70% trigger level during life of notes, and both indexes close at or above initial level, par, otherwise 1% loss for each 1% decline of lowest performing index
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| Initial levels: | 7,848.78 for Nasdaq and 2,980.38 for S&P 500
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| Trigger levels: | 5,494.146 for Nasdaq and 2,086.266 for S&P 500, 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.36404%
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| Cusip: | 48132CYJ6
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