By William Gullotti
Buffalo, N.Y., March 15 – JPMorgan Chase Financial Co. LLC priced $2.54 million of autocallable contingent buffered equity notes due Feb. 29, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an 11% call premium if the index closes at or above its initial level on March 10, 2023.
If the index finishes above its initial level, the payout at maturity will be par plus the greater of 22% and the gain of the index.
If the index finishes flat or falls but by no more than 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
The agent is J.P. Morgan Securities LLC.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent buffered equity notes
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Underlying index: | S&P 500 index
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Amount: | $2,535,000
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Maturity: | Feb. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above its initial level, par plus greater of gain of index and 22%; if index falls by up to 15%, par; otherwise, 1% loss for each 1% decline of index from initial level
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Call: | At par plus 11% call premium if index closes at or above initial level on March 10, 2023
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Initial level: | 4,500.53
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Contingent buffer level: | 85%
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Pricing date: | Feb. 25
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Settlement date: | March 2
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48133DHC7
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