By Wendy Van Sickle
Columbus, Ohio, March 1 – JPMorgan Chase Financial Co. LLC priced $63,000 of step-up autocallable contingent buffered return enhanced notes due Feb. 28, 2025 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.
The notes will be automatically called at par of $1,000 plus an 8.5% annual call premium if each index closes at or above its call level on an annual review date other than the final date. The call level will be 102.5% of the initial level on the first review date and will step up by 2.5% per year to 115% on the sixth review date.
The payout at maturity will be par plus any gain of the lesser-performing index.
Investors will receive par if either index falls by up to 50% and will be fully exposed to losses if the lesser-performing index falls by more than 50%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Issue: | Step-up autocallable contingent buffered return enhanced notes
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $63,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any gain of the lesser-performing index; par if either index falls by up to 50%, full exposure to decline of lesser-performing index if it falls by more than 50%
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| Call: | Automatically called at par plus call premium of 8.5% per year if each index closes at or above its call level on an annual review date other than final date; call level will be 102.5% of initial level on first review date and will step up by 2.5% per year to 115% on sixth review date
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| Initial values: | 2,747.30 for S&P, 1,549.186 for Russell
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%
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| Cusip: | 48129HZX8
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