By William Gullotti
Buffalo, N.Y., March 16 – JPMorgan Chase Financial Co. LLC priced $2.35 million of 0% review notes due March 16, 2027 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 14% per year if the index closes at or above its call level on any quarterly review date after one year. Call level will be equal to the index’s initial level for the first 16 review dates and 70% of initial level for the last.
If the notes are not called and the index finishes at or above the 65% buffer level, the payout at maturity will be par. Otherwise, investors will lose 1.53846% for every 1% decline in the index below the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Review notes
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| Underlying index: | MerQube US Tech+ Vol Advantage index
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| Amount: | $2.35 million
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| Maturity: | March 16, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes have not been called and the index finishes at or above buffer level, par; otherwise, investors will lose 1.53846% for every 1% decline in the index beyond 35%
|
| Call: | Automatically at par plus call premium of 14% per year if index closes at or above its call level on any quarterly review date after one year; call level will be equal to the initial level for the first 16 review dates and 70% of initial level on the final review date
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| Initial level: | 8,115.55
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| Buffer level: | 65% of initial level
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48133DTR1
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