By William Gullotti
Buffalo, N.Y., July 31 – JPMorgan Chase Financial Co. LLC priced $4.77 million of 0% trigger step securities due July 19, 2028 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are fully guaranteed by JPMorgan Chase & Co.
If the index finishes flat or positive, the payout at maturity will be par of $10 plus the greater of the index’s gain and the 36.75% step return.
If the index declines but finishes at or above the 75% trigger level, investors will receive par. Otherwise, investors will be fully exposed to the decline of the index from its initial level
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger step securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $4,765,500
|
| Maturity: | July 19, 2028
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes flat or positive, par plus the greater of index gain and 36.75%; if index declines but finishes at or above trigger level, par; otherwise, 1% loss for every 1% decline from initial level
|
| Initial level: | 4,505.42
|
| Trigger level: | 3,379.07; 75% of initial level
|
| Pricing date: | July 14
|
| Settlement date: | July 19
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48131C195
|
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