By William Gullotti
Buffalo, N.Y., May 15 – JPMorgan Chase Financial Co. LLC priced $2.6 million of 0% dual directional knock-out notes due May 14, 2025 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
A knock-out event will occur if the index’s final level is 20% greater or lower than its initial level.
If a knock-out event occurs, the payout will be par plus 5%.
If a knock-out event has not happened, the payout at maturity will be par plus the absolute value of the index return.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional knock-out notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2.6 million
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| Maturity: | May 14, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If knock-out event has not occurred, par plus absolute value of index return; if knock-out event has occurred, par plus 5%
|
| Knock-out event: | If the index has increased or decreased by more than 20% at maturity
|
| Initial level: | 4,119.17
|
| Strike date: | May 9
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48133WB64
|
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