By Marisa Wong
Morgantown, W.Va., Jan. 30 – JPMorgan Chase Financial Co. LLC priced $6,216,000 of 0% step-up autocallable contingent buffered equity notes due Jan. 26, 2023 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 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 7.5% if each index closes at or above its call level on any annual review date other than the final date. The call level will be 104% of the initial level on the first review date, stepping up by 400 basis points on each subsequent review date to a final level of 116% of the initial level on the fourth review date.
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% contingent buffer, the payout will be par.
Otherwise, the payout will be par plus the return of the worse performing index, with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Step-up autocallable contingent buffered equity notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $6,216,000
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| Maturity: | Jan. 26, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index gains, par plus the return of the worse performing index; if either index falls but by no more than 50%, par; otherwise, par plus the return, with full exposure to any losses
|
| Call: | At par plus a premium of 7.5% per year if each index closes at or above call level on an annual review date; call level is 104% of initial level on first review date and increases by 400 bps each year to a final level of 116% of initial level on last review date
|
| Initial levels: | 2,839.13 for S&P and 1,610.706 for Russell
|
| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.975%
|
| Cusip: | 48129HXJ1
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