By William Gullotti
Buffalo, N.Y., June 27 – JPMorgan Chase Financial Co. LLC priced $18.35 million of 0% dual directional bear market trigger PLUS due Feb. 9, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is negative, investors will gain 2% for each 1% that the index declines, subject to a maximum return of par plus 20%.
If the index gains by up to 9%, investors will receive par plus the index return.
If the index gains by more than 9%, investors will lose 1% for each 1% index gain from initial level, subject to a minimum payout of zero.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management will act as distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Dual directional bear market trigger PLUS
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| Underlying index: | S&P 500 index
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| Amount: | $18.35 million
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| Maturity: | Feb. 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is negative, gain 2% for each 1% that the index declines, subject to a maximum return of par plus 20%; 1% gain for each 1% gain if index gains up to the trigger level; otherwise, 1% loss for each 1% index gain from initial level, subject to minimum payout of zero
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| Initial level: | 4,490.59
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| Trigger level: | 4,758.6021, 109% of initial level
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| Pricing date: | June 21
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| Settlement date: | June 26
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| Agent: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 1.55%
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| Cusip: | 48133XWW2
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