By William Gullotti
Buffalo, N.Y., June 21 – JPMorgan Chase Financial Co. LLC priced $15 million of 0% capped in-Gears due Dec. 28, 2027 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index’s final value is greater than 140% of its initial level, the payout at maturity will be par plus 64.9% plus 0.8111 times any index gain over 40%, subject to a maximum payout of par plus 86.8%
If the index’s final value is less than or equal to 140% of its initial level but greater than 105% of its initial level, the payout will be par plus 39% plus 0.74 times any index gain over 5%.
If the index’s final value is less than or equal to 105% of its initial level but greater than 90% of its initial level, the payout will be par plus 2.6 times the quantity of the return plus 10%.
If the index declines more than 10% but finishes at or above 70% of initial level, investors will lose 1.5% for every 1% decline beyond 10%.
Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped in-Gears
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| Underlying index: | Dow Jones industrial average
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| Amount: | $15 million
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| Maturity: | Dec. 28, 2027
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index’s final value is greater than 140% of its initial level, par plus 64.9% plus 0.8111 times any index gain over 40%, subject to a maximum payout of par plus 86.8%; if the index’s final value is less than or equal to 140% of its initial level but greater than 105% of its initial level, par plus 39% plus 0.74 times any index gain over 5%; if the index’s final value is less than or equal to 105% of its initial level but greater than 90% of its initial level, par plus 2.6 times the quantity of the return plus 10%; the index declines more than 10% but finishes at or above 70% of initial level, investors will lose 1.5% for every 1% decline beyond 10%; otherwise, 1% loss for every 1% decline from initial level
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| Initial level: | Arithmetic average of index closing levels from June 13 to July 8
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| Final value: | Arithmetic average of index closing levels from Sept. 24, 2027 to Dec. 22, 2027
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| Upper downside: | 90% of initial level
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| Lower downside: | 70% of initial level
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| Pricing date: | June 14
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| Settlement date: | June 17
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| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 0.25%
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| Cusip: | 48133E553
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