By William Gullotti
Buffalo, N.Y., June 1 – JPMorgan Chase Financial Co. LLC priced $3.5 million of autocallable contingent buffered equity notes due May 30, 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 11.65% call premium if the index closes at or above its initial level on June 6, 2023.
If the index finishes at or above 85% of its initial level, the payout at maturity will be par plus the greater of 23.3% and the index return.
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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent buffered equity notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3.5 million
|
| Maturity: | May 30, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above 85% of its initial level, par plus greater of index return and 23.3%; otherwise, 1% loss for each 1% decline of index from initial level
|
| Call: | At par plus 11.65% call premium if index closes at or above initial level on June 6, 2023
|
| Initial level: | 3,941.48
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| Contingent buffer level: | 85%
|
| Strike date: | May 24
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48133GMU4
|
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