By Wendy Van Sickle
Columbus, Ohio, April 23 – JPMorgan Chase Financial Co. LLC priced $5.53 million of 0% buffered participation securities due May 21, 2020 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 the initial level, the payout at maturity will par of $10 plus the return of the index, subject to a maximum payment of $10.705 per $10 plus.
If the index falls but by no more than the 10% buffer, the payout will be par.
If the index falls by more than 10%, investors will lose 1% for every 1% decline beyond the 10% buffer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Buffered participation notes
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Underlying index: | S&P 500
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Amount: | $5,525,300
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Maturity: | May 21, 2020
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus index return, subject to a maximum payment of $10.705 per $10 plus; if the index falls but by no more than 10%, par; if the index falls by more than 10%, investors will lose 1% for each 1% decline beyond buffer
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Initial level: | 2,905.03
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Pricing date: | April 18
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Settlement date: | April 24
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Agent: | J.P. Morgan Securities LLC
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Distributor: | Morgan Stanley Smith Barney LLC
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Fees: | 2%
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Cusip: | 48130X166
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