New Issue: JPMorgan prices $600,000 digital dual directional notes linked to oil ETF

By Angela McDaniels

Tacoma, Wash., Feb. 26 – JPMorgan Chase Financial Co. LLC priced $600,000 of 0% digital dual directional buffered notes due March 11, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the final share price is greater than or equal to the initial share price or is less than the initial share price by up to 20%, the payout at maturity will be par plus 8.65%. Otherwise, investors will lose 1.25% for every 1% that the ETF declines beyond 20%.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Digital dual directional buffered notes
Underlying ETF:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$600,000
Maturity:	March 11, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is greater than or equal to initial share price or is less than initial share price by up to 20%, par plus 8.65%; otherwise, 1.25% loss for every 1% that ETF declines beyond 20%
Initial share price:	$30.63
Final share price:	Average of ETF’s closing share prices on five trading days ending March 6, 2020
Pricing date:	Feb. 22
Settlement date:	Feb. 27
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48130W2P5

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