By Susanna Moon
Chicago, Nov. 1 – JPMorgan Chase Financial Co. LLC priced $2.75 million of 0% trigger step securities due Oct. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the gain and the 20% step return.
Investors will receive par if the index falls by up to 20% and will be fully exposed to any losses if the index finishes below the 80% trigger level.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Trigger step securities
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| Underlying index: | S&P 500
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| Amount: | $2,751,450
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| Maturity: | Oct. 29, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index gains, par plus greater of return and 20%; par if index falls by up to 20% and full exposure to any losses beyond trigger level
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| Initial level: | 2,560.40
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| Downside threshold: | 2,048.32, 80% of initial level
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 3%
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| Cusip: | 48129J293
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