By Sarah Lizee
Olympia, Wash., Aug. 26 – JPMorgan Chase Financial Co. LLC priced $1.44 million of 0% bearish autocallable knock-out notes due Aug. 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 6% if the closing index level is less than the initial index level by more than 30% on any day during the life of the notes.
If the notes are not called and the final index level is less than the initial level, the payout will be par plus 1% for every 1% decline of the index.
If the final index level is greater than or equal to the initial level, investors will lose 1% for every 1% increase in the index, subject to a minimum payout of 85% of par.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Bearish autocallable knock-out notes
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| Underlying index: | S&P 500
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| Amount: | $1,441,000
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| Maturity: | Aug. 29, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the final index level is less than the initial level, par plus 1% for every 1% decline of the index; if the final index level is greater than or equal to the initial level, investors will lose 1% for every 1% increase in the index, subject to a minimum payout of 85% of par
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| Call: | Automatically at par plus 6% if the closing index level is less than the initial index level by more than 30% on any day during the life of the notes
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| Initial level: | 3,431.28
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| Knock-out level: | 70% of initial level
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132M3R0
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