By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – JPMorgan Chase Financial Co. LLC priced $1.23 million of 0% step-up autocallable contingent buffered return enhanced notes due Sept. 30, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized premium of 8% if each index closes above its call level on any annual review date. The call level will be 104% of the initial level on the first review date and will step up by 4% each subsequent year.
If each index finishes above its initial level, the payout at maturity will be par plus the gain of the worse performing index.
If either index falls but by no more than the 50% buffer, the payout will be par.
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: | Step-up autocallable contingent buffered return enhanced notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1,231,000
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| Maturity: | Sept. 30, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus a premium of 8% a year if each index closes above call level on an annual review date; call level is 104% of initial level on first review date and steps up by 4% each year
|
| Payout at maturity: | If each index finishes above its initial level, par plus the gain of the worse performing index; if either index falls by up to 50%, par; otherwise, 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 2,496.84 for S&P, 1,456.863 for Russell
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 46647M5C3
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