By Susanna Moon
Chicago, Dec. 27 – JPMorgan Chase Financial Co. LLC priced $2.23 million of 0% dual directional knock-out notes due May 29, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index never closes below its 81.5% knock-out level on any day during the life of the notes, the payout at maturity will be par plus the absolute value of the index return.
Otherwise, the payout will be par plus 2%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Dual directional knock-out notes
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| Underlying index: | S&P 500
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| Amount: | $2,231,000
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| Maturity: | May 29, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index never falls by up to 18.5%, par plus absolute return; otherwise, par plus 2%
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| Initial index level: | 2,682.17
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| Knock-out percentage: | 18.5%
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48130WCQ2
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