By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – JPMorgan Chase Financial Co. LLC priced $16.74 million of 0% trigger step securities due Oct. 29, 2021 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return of 60%.
Investors will receive par if the index declines by 25% or less and will be exposed to the index’s decline from its initial level if it declines beyond 25%.
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: | Trigger step securities
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Underlying index: | Euro Stoxx Banks
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Amount: | $16,737,100
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Maturity: | Oct. 29, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is zero or positive, par plus greater of 60% and return; par if index declines by up to 25%; full exposure to losses if index falls beyond 25%
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Initial value: | 135.53
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Downside threshold: | 101.65, 75% of initial value
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Pricing date: | Oct. 27
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Settlement date: | Oct. 31
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Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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Fees: | 3%
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Cusip: | 48129J251
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