By Sarah Lizee
Olympia, Wash., Dec. 27 – JPMorgan Chase Financial Co. LLC priced $2.38 million of capped buffered return enhanced notes due May 29, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the ETF closes at or above its initial value, the payout at maturity will be par plus 1.5 times any gain up to a maximum payout of par plus 38%.
If the ETF declines by up to 10%, the payout will be par. Investors will be exposed to any losses beyond 10%.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped buffered return enhanced notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $2,382,000
|
| Maturity: | May 29, 2020
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus 1.5 times any ETF gain, up to a maximum payout of par plus 38%; par if ETF declines by up to 10%; exposure to losses beyond 10%
|
| Initial value: | $25.35
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agents: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48130WKL4
|
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