By William Gullotti
Buffalo, N.Y., June 12 – JPMorgan Chase Financial Co. LLC priced $2.62 million of 0% bearish autocallable knock-out buffered equity notes due Aug. 29, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 15% if the closing index level is less than the initial index level by more than 20% on any trading day during the life of the notes.
If the notes are not called and the final index level is less than the initial level, the payout at maturity will be par plus 1% for every 1% decline of the index.
If the index gains by no more than 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% increase in the index above 20%, subject to a minimum payout of 20% of par.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Bearish autocallable knock-out buffered equity notes
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| Underlying index: | S&P 500 index
|
| Amount: | $2,619,000
|
| Maturity: | Aug. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and the final index level is less than the initial level, par plus 1% for every 1% decline of the index; if the index gains up to 20%, the payout will be par; otherwise, investors will lose 1% for every 1% increase in the index above 20% with losses capped at 80%
|
| Call: | Automatically at par plus 15% if the closing index level is less than the initial index level by more than 20% on any trading day during the life of the notes
|
| Initial level: | 4,205.45
|
| Knock-out level: | 80% of initial level
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133WTE8
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