By Tali Rackner
Minneapolis, Dec. 11 – JPMorgan Chase Financial Co. LLC priced $90,000 of 0% step-up autocallable buffered equity notes due Nov. 29, 2024 linked to 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 7% if the index closes above its call value on an annual call date other than the final date. The call level is 103% of the initial level on the first call date and steps up by 3% each subsequent year.
If the index finishes at or above its initial level, the payout at maturity will be par plus the index gain.
Investors will receive par if the index falls but by up to the 10% buffer.
Otherwise, investors will be exposed to any losses.
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 buffered equity notes
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| Underlying index: | Russell 2000
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| Amount: | $90,000
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| Maturity: | Nov. 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 7% per year if the index closes above its call value on an annual call date other than final date; call level is 103% of the initial level on first call date and steps up by 3% each subsequent year to 118% on the sixth review date
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| Payout at maturity: | If the index gains, par plus return; par if the index falls by up to 10%; otherwise, 1% loss per 1% decline
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| Initial level: | 1,513.309
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| Buffer level: | 10%
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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: | 4.25%
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| Cusip: | 48129HLA3
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