By William Gullotti
Buffalo, N.Y., Aug. 17 – JPMorgan Chase Financial Co. LLC priced $22.04 million of 0% dual directional trigger participation securities due March 5, 2024 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus the index return, subject to a maximum payout of par plus 21%.
If the index declines by 20% or less, the payout will be par plus the absolute value of the index return.
If the index declines by more than 20%, investors will lose 1% for every 1% that the index declines from its initial level.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional trigger participation securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $22,040,500
|
| Maturity: | March 5, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the final index level is greater than the initial index level, par plus the index return, capped at par plus 21%; if the index declines by 20% or less, par plus the absolute value of the index return; otherwise, 1% loss for every 1% that the index declines from its initial level
|
| Initial index level: | 4,280.15
|
| Trigger level: | 3,424.12; 80% of initial level
|
| Pricing date: | Aug. 12
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| Settlement date: | Aug. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 48133H713
|
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