By Angela McDaniels
Tacoma, Wash., June 27 – JPMorgan Chase Financial Co. LLC priced $2.47 million of 0% autocallable contingent buffered equity notes due June 28, 2024 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 will be automatically called at par plus a call premium of 7% per year if each index closes at or above its initial level on any of four annual review dates.
If the notes have not been called and the final level of each index is greater than its initial level, the payout at maturity will be par plus the return of the lesser-performing index.
If the final level of one index is greater than its initial level and the final level of the other index is equal to its initial level or is less than its initial level by up to 40% or if the final level of each index is equal to its initial level or is less than its initial level by up to 40%, the payout will be par.
If the final level of either index is less than its initial level by more than 40%, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | autocallable contingent buffered equity notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,474,000
|
| Maturity: | June 28, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes have not been called and final level of each index is greater than initial level, par plus return of lesser-performing index; if final level of one index is greater than initial level and final level of other index is equal to initial level or is less than initial level by up to 40% or if final level of each index is equal to initial level or is less than initial level by up to 40%, par; if final level of either index is less than initial level by more than 40%, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Automatically at par plus call premium of 7% per year if each index closes at or above initial level on June 26, 2020, June 25, 2021, June 27, 2022 or June 27, 2023
|
| Initial levels: | 1,521.035 for Russell 2000 and 2,917.38 for S&P 500
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.09141%
|
| Cusip: | 48132CPM9
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