By Sarah Lizee
Olympia, Wash., Dec. 12 – JPMorgan Chase Financial Co. LLC priced $4.1 million of 0% trigger absolute return step securities due Nov. 30, 2023 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 finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the step return of 26%.
If the index falls but finishes at or above the 70% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
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 absolute return step securities
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| Underlying index: | S&P 500
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| Amount: | $4.1 million
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| Maturity: | Nov. 30, 2023
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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 the greater of the gain and the step return of 28%; if index falls but finishes at or above downside threshold, par plus absolute value of the return; otherwise, full exposure to any losses
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| Initial level: | 3,140.52
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| Downside threshold: | 2,198.36, 70% of initial level
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| Pricing date: | Nov. 26
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| Settlement date: | Nov. 29
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| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 1.2%
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| Cusip: | 48132J843
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