By Sarah Lizee
Olympia, Wash., May 20 – JPMorgan Chase Financial Co. LLC priced $2 million of 0% autocallable contingent buffered equity notes due May 20, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual call premium of 12% if each index closes at or above its initial level on any annual review date other than the final date.
If the notes are not called and each underlying index finishes above its initial level, the payout at maturity will be par plus the gain of the worse performing asset.
If either asset falls but neither falls by more than the 40% contingent buffer, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent buffered equity notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1,996,000
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| Maturity: | May 20, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 12% per year if each index closes at or above initial level on any annual review date other than final date
|
| Payout at maturity: | If each asset gains, par plus return of worse performing asset; if either asset falls but neither falls by more than 40%, par; otherwise, 1% loss for each 1% decline of worse performing index
|
| Initial levels: | 2,863.7 for S&P and 1,256.992 for Russell
|
| Contingent buffer levels: | 60% of initial levels
|
| Pricing date: | May 15
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| Settlement date: | May 20
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.61774%
|
| Cusip: | 48132K2G9
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