By William Gullotti
Buffalo, N.Y., June 27 – JPMorgan Chase Financial Co. LLC priced $3 million of 0% bearish capped buffer gears due June 28, 2024 linked inversely to the stock performance of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock declines, investors will gain 3% for every 1% decline of the stock, subject to a maximum return of par plus 43.1%.
If the stock finishes flat or gains by no more than 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain of the stock above the 110% threshold level, with losses capped at 90%.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Bearish capped buffer gears
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| Underlying stock: | Apple Inc.
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| Amount: | $2,152,500
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| Maturity: | June 28, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If stock declines, gain 3% for every 1% decline, capped at par plus 43.1%; par if stock finishes flat or gains by up to 10%; otherwise, 1% loss for each 1% gain above threshold level, with losses capped at 90%
|
| Initial level: | $184.92
|
| Threshold level: | $203.41; 110% of initial level
|
| Principal protection: | 10%
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| Strike date: | June 16
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| Pricing date: | June 20
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| Settlement date: | June 23
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| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 0.75%
|
| Cusip: | 48130Y669
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