By William Gullotti
Buffalo, N.Y., May 26 – JPMorgan Chase Financial Co. LLC priced $1.93 million of 0% capped dual directional buffered return enhanced notes due May 22, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 1.2 times the index’s return, subject to a maximum upside return of par plus 24.25%.
If the final level of the index is flat or falls by up to 15%, the payout will be par plus the absolute value of the index’s return.
If the final level of index is less than its initial level by more than 15%, investors will lose 1% for every 1% that the index declines beyond 15%.
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: | Capped dual directional buffered return enhanced notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,929,000
|
| Maturity: | May 22, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes above initial level, par plus 1.2 times index’s return, subject to maximum upside return of par plus 24.25%; if final level of index is equal to initial level or is less than initial level by up to 15%, par plus absolute value of index’s return; otherwise, 1% loss for every 1% that index declines beyond 15%
|
| Initial level: | 4,191.98
|
| Buffer level: | 85% of initial level
|
| Pricing date: | May 19
|
| Settlement date: | May 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.7%
|
| Cusip: | 48133WRN0
|
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