New Issue: JPMorgan prices $4 million dual directional contingent buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Nov. 25 – JPMorgan Chase & Co. priced $4 million of 0% dual directional contingent buffered return enhanced notes due Nov. 25, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus 1.25 times the index return. If the index declines by up to 50%, the payout will be par plus the absolute value of the index return. If the index declines by more than 50%, investors will be fully exposed to the decline.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Dual directional contingent buffered return enhanced notes
Underlying index:	S&P 500
Amount:	$4 million
Maturity:	Nov. 25, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus 1.25 times return; if index falls by up to 50%, par plus absolute value of index return; otherwise, full exposure to index’s decline
Initial level:	2,089.17
Pricing date:	Nov. 20
Settlement date:	Nov. 25
Agent:	J.P. Morgan Securities LLC
Fees:	3.5%
Cusip:	48128GDY3

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