By Angela McDaniels
Tacoma, Wash., Feb. 28 – JPMorgan Chase Financial Co. LLC priced $200,000 additional principal amount of 0% dual directional contingent buffered return enhanced notes due Jan. 29, 2021 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.
The original $2.4 million principal amount of notes were issued Jan. 31. The total issue size is now $2.6 million.
If each index finishes above its initial level, the payout at maturity will be par plus 1.25 times the return of the lesser-performing index.
If (a) the final level of one index is greater than its initial level and the final level of the other index is equal to its initial level or is less than its initial level by up to 32% or if (b) the final level of each index is equal to its initial level or is less than its initial level by up to 32%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of either index is less than its initial level by more than 32%, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional contingent buffered return enhanced notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,601,000, increased from $2,401,000
|
| Maturity: | Jan. 29, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above initial level, par plus 1.25 times return of lesser-performing index; if final level of one index is greater than initial level and final level of other index is equal to initial level or is less than initial level by up to 32% or if final level of each index is equal to initial level or is less than initial level by up to 32%, par plus absolute value of lesser-performing index’s return; if final level of either index is less than initial level by more than 32%, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Initial levels: | 2,296.68 for S&P 500 and 1,375.595 for Russell 2000
|
| Pricing dates: | Jan. 26 for original $2,401,000 and Feb. 26 for $200,000 reopening
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| Settlement dates: | Jan. 31 for original notes and March 1 for reopened notes
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 46646QHK4
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