By William Gullotti
Buffalo, N.Y., May 22 – JPMorgan Chase Financial Co. LLC priced $2.78 million of 0% autocallable capped dual directional notes due Nov. 20, 2024 linked to the performance of the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called automatically at par if the index’s closing level is less than its initial level by more than 25% on any trading day during the life of the notes.
If the index finishes flat or positive, the payout at maturity will be par plus 1.5 times the return, capped at par plus 7.5%.
If the index declines, investors will receive par plus the absolute value of the return, capped at par plus 25%.
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 capped dual directional notes
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Underlying index: | S&P 500 index
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Amount: | $2.78 million
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Maturity: | Nov. 20, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above initial level, par plus 1.5 times the return, capped at par plus 7.5%; if index declines, par plus absolute value of index return, capped at par plus 25%
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Call: | Automatically at par if the index’s closing level is less than its initial level by more than 25% on any trading day during the life of the notes
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Initial level: | 4,136.28
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Strike date: | May 15
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Pricing date: | May 16
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Settlement date: | May 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.3%
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Cusip: | 48133WRZ3
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