By Taylor Fox
New York, Nov. 16 – JPMorgan Chase Financial Co. LLC priced $2.31 million of 0% capped buffered equity notes due Oct. 25, 2022 linked to the lesser performing of the S&P Midcap 400 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final level of each asset is greater than its initial level, the payout at maturity will be par plus the lesser-performing index’s return, capped at 20%.
If the final level of either asset is less than its initial level by up to 22.25%, par.
If the final level of either asset is less than its initial level by more than 22.25%, investors will lose 1% for every 1% that the lesser-performing asset declines beyond 22.25%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped buffered equity notes
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| Underlying assets: | S&P Midcap 400 index and the iShares MSCI EAFE ETF
|
| Amount: | $2,310,000
|
| Maturity: | Oct. 25, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each asset is greater than its initial level, par plus lesser-performing asset’s return, capped at 20%; if lesser-performing asset falls by up to 22.25%, par; if final level of either asset is less than initial level by more than 22.25%, 1% loss for every 1% that lesser-performing asset declines beyond 22.25% buffer
|
| Initial levels: | 1,984.26 for S&P, $64.82 for iShares
|
| Buffer levels: | 77.75% of initial levels
|
| Pricing date: | Oct. 20
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| Settlement date: | Oct. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.45%
|
| Cusip: | 48132PC85
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