By Tali Rackner
Minneapolis, Dec. 8 – JPMorgan Chase Financial Co. LLC priced $657,000 of 0% step-up autocallable contingent buffered equity notes due Nov. 30, 2022 linked to 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.
The notes will be called at par plus an annualized call premium of 8% if each index closes above its call value on an annual call date other than the final date. The call level is 104% of the initial level on the first call date and steps up by 4% each subsequent year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the gain of the worse performing index.
Investors will receive par if either index falls but by up to the 45% contingent buffer.
Otherwise, investors will be exposed to any losses of the lesser-performing index.
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 equity notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $657,000
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| Maturity: | Nov. 30, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 8% per year if each index closes above its call value on an annual call date other than final date; call level is 104% of the initial level on first call date and steps up by 4% each subsequent year to 116% on the fourth review date
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| Payout at maturity: | If each index gains, par plus return of lesser-performing index; par if either index falls by up to 45%; otherwise, 1% loss per 1% decline of lesser-performing index
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| Initial level: | 2,601.42 for S&P, 1,513.309 for Russell
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| Contingent buffer: | 50%
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.125%
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| Cusip: | 48129HKU0
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