By Marisa Wong
Morgantown, W.Va., Aug. 7 – JPMorgan Chase Financial Co. LLC priced $5.74 million of 0% trigger absolute return step securities due July 29, 2022 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final ETF level is greater than or equal to the initial ETF level, the payout at maturity will be par of $10 plus the greater of the step return, 23.25%, and the ETF return.
If the final ETF level is less than the initial ETF level but greater than or equal to the downside threshold level, 75% of the initial ETF level, the payout will be par plus the absolute value of the ETF return.
If the final ETF level is less than the downside threshold level, investors will lose 1% for every 1% that the final ETF level is less than the initial ETF level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger absolute return step securities
|
| Underlying ETF: | iShares MSCI EAFE ETF
|
| Amount: | $5,738,370
|
| Maturity: | July 29, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the final ETF level is greater than or equal to the initial ETF level, par plus the greater of 23.25% and the ETF return; if the final ETF level is less than the initial ETF level but greater than or equal to the downside threshold level, par plus the absolute value of the ETF return; otherwise, investors will lose 1% for every 1% that the final ETF level is less than the initial ETF level
|
| Initial value: | $66.87
|
| Downside threshold: | $50.15, 75% of initial value
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC Inc.
|
| Fees: | 3.5%
|
| Cusip: | 48129G539
|
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