By Wendy Van Sickle
Columbus, Ohio, May 6 – JPMorgan Chase Financial Co. LLC priced $29.15 million of 0% buffer autocallable GEARS due May 5, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an 8.5% annualized premium if the index closes at or above 108.5% of its initial level on May 7, 2021.
If the notes are not called and the index finishes at or above its initial level, the payout at maturity will be par plus 2 times the index gain.
If the index declines, but finishes above its 90% buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index falls by more than 10%.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Buffer autocallable gears
|
| Underlying index: | S&P 500
|
| Amount: | $29,151,090
|
| Maturity: | May 5, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus an 8.5% annualized premium if the index closes at or above 108.5% of its initial level on May 7, 2021
|
| Payout at maturity: | If index gains, par plus 2 times the gain; par if index falls by 10% or less; exposure to losses beyond 10%
|
| Initial index level: | 2,830.71
|
| Autocall level: | 3,071.32, which is 108.5% of initial level
|
| Buffer level: | 2,547.64, 90% of initial level
|
| Pricing date: | May 1
|
| Settlement date: | May 6
|
| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 48132L889
|
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