New Issue: JPMorgan sells $1 million bearish knock-out notes due 2020 on S&P 500

By Sarah Lizee

Olympia, Wash., June 15 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% bearish knock-out notes due June 18, 2020 linked 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 ends below its initial level but at or above the knock-out level of 79.75% of its initial level, the payout at maturity will be par plus 200% of the absolute value of the index return. Otherwise the payout will be par.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Bearish knock-out notes
Underlying index:	S&P 500 index
Amount:	$1 million
Maturity:	June 18, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index ends below initial level but at or above knock-out level of 79.75% of its initial level, par plus 200% of absolute value of index return; otherwise, par
Initial level:	2,775.63
Final level:	Average of closing levels on the five days ending June 15, 2020
Pricing date:	June 13
Settlement date:	June 18
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48129M2G0

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