New Issue: JPMorgan sells $450,000 capped buffered return enhanced notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, Nov. 25 – JPMorgan Chase Financial Co. LLC priced $450,000 of 0% capped buffered return enhanced notes due Dec. 2, 2020 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.

If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 250% of the return of the lesser performing index, capped at par plus 10%.

If either index falls by up to 10%, the payout at maturity will be par.

If either index falls by more than 10% investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Capped buffered return enhanced notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$450,000
Maturity:	Dec. 2, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If the final level of each index is greater than or equal to its initial level, par plus 2.5 times return of the lesser performing index capped at par plus 10%; if either index falls by up to 10%, par; if either index falls by more than 10%, 1% loss for every 1% that the lesser-performing index declines beyond 10%
Initial levels:	1,591.609 for Russell and 3,108.46 for S&P
Pricing date:	Nov. 20
Settlement date:	Nov. 22
Fees:	1.55%
Cusip:	48132F3P9

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