By Sarah Lizee
Olympia, Wash., May 12 – JPMorgan Chase Financial Co. LLC priced $1.2 million of step-up autocallable contingent buffered equity notes due May 13, 2025 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus 1.3 times the return of the least performing index if each index closes at or above its call level on an annual review date other than the final date. The call level will be 102% of the initial level on the first review date and will step up by 2% per year to 108% on the fourth review date.
The payout at maturity will be par plus 1.3 times any gain of the least performing index.
Investors will receive par if either index falls by up to 30% and will otherwise lose 1% for each 1% decline of the least performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Issue: | Step-up autocallable contingent buffered equity notes
|
| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $1,204,000
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| Maturity: | May 13, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 1.3 times any gain of the lesser-performing index; par if either index falls by up to contingent buffer, otherwise 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call: | Automatically at par plus 1.3 times the return of the least performing index if each index closes at or above its call level on an annual review date other than the final date; call level will be 102% of the initial level on the first review date and will step up by 2% per year to 108% on the fourth review date
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| Initial levels: | 2,929.80 for S&P, 9,220.354 for Nasdaq and 24,331.32 for Dow
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| Contingent buffer levels: | 70% of initial levels
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| Pricing date: | May 8
|
| Settlement date: | May 13
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 48132K6Y6
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