By Marisa Wong
Morgantown, W.Va., Aug. 9 – JPMorgan Chase Financial Co. LLC priced $1.28 million of 0% uncapped contingent buffered return enhanced notes due July 31, 2023 linked to the lesser performing of the Russell 2000 index and 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 each index finishes above its upside leverage threshold, 120% of the initial level, the payout at maturity will be par plus the contingent minimum return of 20% plus 1.2 times any gain in the lesser performing index in excess of 20%.
If either index finishes at or below its upside leverage threshold but each index finishes at or above 60% of its initial level, the payout will be par plus 20%.
If either index falls by more than 40%, the payout will be par plus the return of the lesser performing index with full exposure to losses.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Uncapped contingent buffered return enhanced notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $1,275,000
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Maturity: | July 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above its upside leverage threshold, par plus 20% plus 1.2 times any gain in the lesser performing index in excess of 20%; if either index finishes at or below its upside leverage threshold but each index finishes at or above 60% of its initial level, par plus 20%; if either index falls by more than 40%, par plus the return of the lesser performing index with full exposure to losses
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Initial levels: | 1,670.805 for Russell and 2,816.29 for S&P
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Upside leverage threshold: 2,004.966 for Russell and 3,379.548 for S&P
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Pricing date: | July 31
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Settlement date: | Aug. 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.74902%
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Cusip: | 48129MF76
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