New Issue: JPMorgan prices $2.01 million capped notes linked to S&P 500, Russell Value ETF

By William Gullotti

Buffalo, N.Y., July 20 – JPMorgan Chase Financial Co. LLC priced $2.01 million of 0% capped notes due July 18, 2025 linked to the lesser performing of the S&P 500 index and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each underlier finishes at or above its initial level, the payout at maturity will be par plus the least performing underlier’s return, subject to a maximum return of par plus 31%.

Otherwise, investors will receive par.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Capped notes
Underlying assets:	iShares Russell 2000 Value ETF, S&P 500 index
Amount:	$2,011,000
Maturity:	July 18, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each underlier finishes at or above its initial level, par plus the least performing underlier’s return capped at 31%; otherwise, par
Initial levels:	$138.28 for ETF, 3,863.16 for S&P
Pricing date:	July 15
Settlement date:	July 20
Agent:	J.P. Morgan Securities LLC
Fees:	0.75%
Cusip:	48133LNU2

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