By Angela McDaniels
Tacoma, Wash., Dec. 4 – JPMorgan Chase Financial Co. LLC priced $1.42 million of 0% uncapped buffered return enhanced notes due Nov. 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 are guaranteed by JPMorgan Chase & Co.
If the final level of each index is greater than its upside leverage threshold, 118% of its initial level, the payout at maturity will be par plus 18% plus 1.1% for every 1% that the lesser-performing index’s return exceeds 18%.
If the final level of either index is less than or equal to its upside leverage threshold but the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 18%.
If the final level of one index is greater than or equal to its initial level and the final level of the other index is less than its initial level by up 30% or the final level of each index is less than its initial level by up to 30%, the payout will be par.
If the final level of either index is less than its initial level by more than 30%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 30%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Uncapped buffered return enhanced notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,416,000
|
| Maturity: | Nov. 30, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above upside leverage threshold, par plus 18% plus 1.1% for every 1% that lesser-performing index’s return exceeds 18%; if either index finishes at or below upside leverage threshold but each index finishes at or above initial level, par plus 18%; if one index finishes at or above initial level and other index falls by up to 30% or each index falls by up to 30%, par; if either index falls by more than 30%, 1% loss for every 1% that lesser-performing index declines beyond 30%
|
| Initial index levels: | 2,647.58 for S&P 500 and 1,544.141 for Russell 2000
|
| Upside leverage thresholds: | 3,124.1444 for S&P 500 and 1,822.08638 for Russell 2000; 118% of initial levels
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.83625%
|
| Cusip: | 48129HLT2
|
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