New Issue: JPMorgan sells $1 million capped return enhanced notes on Wells Fargo

By Kiku Steinfeld

Chicago, Aug. 4 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% capped return enhanced notes due Aug. 1, 2023 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the stock return is positive, the payout at maturity will be par plus 1.75 times the stock gain, subject to a maximum return of 100%. If the stock return is negative, investors will have one-to-one exposure to the decline.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Capped return enhanced notes
Underlying stock:	Wells Fargo & Co.
Amount:	$1,000,000
Maturity:	Aug. 1, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If stock return is positive, par plus 1.75 times gain, return capped at 100%; if stock return is negative, one-to-one exposure to decline
Initial level:	$25.49
Pricing date:	July 27
Settlement date:	July 30
Agent:	J.P. Morgan Securities LLC
Fees:	2.85%
Cusip:	48132MWY3

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