By William Gullotti
Buffalo, N.Y., June 2 – JPMorgan Chase Financial Co. LLC priced $1.13 million of 0% digital knock-out notes due June 10, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
A knock-out event will occur if the index closes above its upper barrier, 110% of initial level, or below its lower barrier, 80% of initial level, on any trading day during the life of the notes.
If a knock-out event occurs, the payout at maturity will be par.
If a knock-out event has not occurred, the payout will be par plus 27%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital knock-out notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,125,000
|
| Maturity: | June 10, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If a knock-out event has occurred, par; if a knock-out event has not occurred, par plus 27%
|
| Knock-out event: | Occurs if index closes above upper barrier or below lower barrier on any trading day during the life of the notes
|
| Initial level: | 4,115.24
|
| Upper barrier: | 4,526.764; 110% of initial level
|
| Lower barrier: | 3,292.192; 80% of initial level
|
| Strike date: | May 24
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133XBX3
|
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