By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – JPMorgan Chase Financial Co. LLC priced $2 million of 0% capped buffered return enhanced notes due Feb. 21, 2025 linked to the SPDR S&P Biotech ETF, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any ETF gain, up to a maximum return of 39%.
Investors will receive par if the ETF falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
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: | Capped buffered return enhanced notes
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| Underlying ETF: | SPDR S&P Biotech ETF
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| Amount: | $2 million
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| Maturity: | Feb. 21, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any ETF gain, capped at 39%; par if ETF declines by 20% or less; otherwise, lose 1.25% for each 1% decline beyond 20%
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| Initial value: | $90.61
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| Buffer level: | 80% of initial level
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133DFS4
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