By Wendy Van Sickle
Columbus, Ohio, May 3 – JPMorgan Chase Financial Co. LLC priced $1.01 million of 0% uncapped buffered return enhanced notes due April 29, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index finishes above its upside leverage threshold, 130% of the initial level, the payout at maturity will be par plus the contingent minimum return of 30% plus 1.2 times the gain of the lesser performing index in excess of 30%.
If either index finishes at or below the upside leverage threshold but both finish at or above their initial levels, the payout will be par plus the contingent minimum return of 30%.
If either index falls but by no more than the 30% buffer, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 30%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Uncapped buffered return enhanced notes
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| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,013,000
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| Maturity: | April 29, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above its upside threshold level, par plus 30% plus 1.2 times the gain of the lesser performing index in excess of 30%; if either index finishes at or below the upside threshold but both finish at or above their initial levels, par plus 30%; if either index falls but by no more than the 30% buffer, par; otherwise, 1% loss for every 1% decline of the lesser performing index beyond 30%
|
| Initial levels: | 1,400.428 for Russell and 2,384.20 for S&P
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| Upside leverage thresholds: | 130% of initial levels
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| Buffer amount: | 30%
|
| Pricing date: | April 28
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| Settlement date: | May 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.34279%
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| Cusip: | 46646Q3F0
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