By William Gullotti
Buffalo, N.Y., June 13 – JPMorgan Chase Financial Co. LLC priced $1.5 million of 0% autocallable dual directional buffered return enhanced notes due June 13, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 5.1% call premium if the index closes at or above its initial level on June 9, 2023.
If the index finishes above its initial level, the payout at maturity will be par plus 1.5 times the return.
If the final level of the index is flat or falls by up to 20%, the payout will be par plus the absolute value of the return. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
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: | Autocallable dual directional buffered return enhanced notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.5 million
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| Maturity: | June 13, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index finishes above initial level, par plus 1.5 times index return; if final level is equal to initial level or is less than initial level by up to 20%, par plus absolute value of the index’s return; otherwise, 1% loss for every 1% that the index declines beyond 20%
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| Call: | At par plus 5.1% call premium if the index closes at or above its initial level on June 9, 2023
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| Initial level: | 4,115.77
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| Buffer level: | 80% of initial level
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| Pricing date: | June 8
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| Settlement date: | June 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48133GYV9
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