By Marisa Wong
Morgantown, W.Va., June 19 – JPMorgan Chase Financial Co. LLC priced $256,000 of step-up autocallable buffered equity notes due May 29, 2026 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 plus a 8% annualized 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% of the initial level on the first review date and will step up by 200 basis points each year to 112% of the initial level on the fourth 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 but neither falls by more than 15% and will otherwise lose 1% for each 1% decline of the lesser-performing index beyond 15%.
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 indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $256,000
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| Maturity: | May 29, 2026
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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 but neither falls by more than 15%, otherwise 1% loss for each 1% decline of lesser-performing index beyond 15%
|
| Call: | Automatically at par plus 8% 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% of the initial level on the first review date and will step up by 200 bps each year to 112% of the initial level on the fourth review date
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| Initial levels: | 1,504.019 for Russell and 2,802.39 for S&P 500
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| Pricing date: | May 28
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| Settlement date: | May 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4%
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| Cusip: | 48132CEZ2
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