By Susanna Moon
Chicago, Sept. 14 – JPMorgan Chase Financial Co. LLC priced $1.45 million of 0% contingent buffered return enhanced notes due Sept. 11, 2020 tied to a basket of equally weighted common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Pfizer Inc., Bristol-Myers Squibb Co., Merck & Co., Inc. and Eli Lilly and Co.
If the basket finishes at or above the initial level, the payout at maturity will be par plus 1.4 times any basket gain, up to a maximum return of 35%.
Investors will receive par if the basket falls by up to the 30% contingent buffer.
Otherwise, investors will be exposed to any losses.
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: | Contingent buffered return enhanced notes
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| Underlying basket: | Pfizer Inc. (NYSE: PFE), Bristol-Myers Squibb Co. (NYSE: BMY), Merck & Co., Inc. (NYSE: MRK) and Eli Lilly and Co. (NYSE: LLY)
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| Amount: | $1.45 million
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| Maturity: | Sept. 11, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.4 times any basket gain, capped at 35%; par if basket falls by up to 30%; if basket falls by more than 30%, 1% loss for each 1% decline
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| Initial levels: | $34.10 for Pfizer, $62.62 for Bristol-Myers Squibb, $64.27 for Merck and $82.92 for Eli Lilly
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| Contingent buffer: | 30%
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 46647M6Q1
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