By William Gullotti
Buffalo, N.Y., June 27 – JPMorgan Chase Financial Co. LLC priced $3.5 million of 0% capped buffered enhanced participation equity notes due July 26, 2023 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the ETF return greater than the initial level, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum settlement amount of par plus 41.04%.
If the ETF declines but finishes at or above its 90% buffer level, the payout will be par. Otherwise, investors will lose 1.1111% for every 1% decline of the ETF beyond 10%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped buffered enhanced participation equity notes
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| Underlying ETF: | SPDR S&P Biotech ETF
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| Amount: | $3.5 million
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| Maturity: | July 26, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains, par plus 150% of the gain, capped at par plus 41.04%; if the ETF declines up to 10%, par; otherwise, 1.1111% loss for every 1% drop beyond 10%
|
| Initial level: | $71.79
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| Buffer level: | 90% of initial level
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| Pricing date: | June 22
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| Settlement date: | June 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.08%
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| Cusip: | 48133G6Z1
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