Chicago, Aug. 2 – JPMorgan Chase Financial Co. LLC priced $6.83 million of 0% bearish capped buffer gears due April 30, 2024 linked inversely to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index declines, investors will gain 3% for every 1% decline of the index, subject to a maximum return of par plus 28.5%.
If the index finishes flat or gains by no more than 8%, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain of the index beyond the 8% buffer, with losses capped at 92%.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Bearish capped buffer gears
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Underlying index: | S&P 500 index
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Amount: | $6,828,000
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Maturity: | April 30, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index declines, gain 3% for every 1% decline, capped at par plus 28.5%; par if index finishes flat or gains by up to 8%; otherwise, 1% loss for each 1% gain beyond 8% buffer, with losses capped at 92%
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Initial level: | 4,567.46
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Threshold level: | 4,932.86; 108% of initial level
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Principal protection: | 8%
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Pricing date: | July 25
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Settlement date: | July 28
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Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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Fees: | 0.75%
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Cusip: | 48131C393
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