By Kiku Steinfeld
Chicago, Dec. 15 – JPMorgan Chase Financial Co. LLC priced $650,000 of 0% capped dual directional buffered equity notes due Oct. 24, 2024 linked to the Invesco QQQ Trust Series 1 and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains the payout will be par plus the worst performing ETF return capped at par plus 15%.
The payout will be par plus 200% of the absolute value of the worst performing ETF return if the worst performing ETF declines but by no more than the 20% buffer.
Investors will lose 1% for every 1% that the worst performing ETF declines beyond the buffer.
The securities are non-callable.
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 dual directional buffered equity notes
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Underlying ETFs: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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Amount: | $650,000
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Maturity: | Oct. 24, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF gains par plus worst performing ETF return capped at par plus 15%; par plus 200% of absolute value of worst performing ETF return if worst performing ETF declines but by no more than 20% buffer; 1% loss for every 1% that worst performing ETF declines beyond the buffer
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Call: | Non-callable
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Initial levels: | $316.61 for Invesco QQQ Trust, Series 1, $412.20 for SPDR S&P 500
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Cap: | 15%
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Buffer: | 20%
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Pricing date: | April 21, 2023
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Settlement date: | April 26, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.45%
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Cusip: | 48133V6L9
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