By William Gullotti
Buffalo, N.Y., April 24 – JPMorgan Chase Financial Co. LLC priced $2.75 million of lookback entry trigger PLUS due May 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, capped at par plus 21.3%.
Investors will receive par if the index return is negative but ends at or above the trigger and will lose 1% for every 1% decline from initial level if it ends below the trigger level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Lookback entry trigger PLUS
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| Underlying index: | S&P 500 index
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| Amount: | $2,754,000
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| Maturity: | May 5, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index return is positive, par plus 150% of index return, capped at par plus 21.3%; par if index declines but finishes at or above trigger level; otherwise, 1% loss for every 1% decline from initial level
|
| Initial level: | Lowest closing level of the underlying index on any trading day between April 14 and June 14, inclusive; will not exceed 4,137.64
|
| Trigger level: | 80% of initial level
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| Pricing date: | April 14
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| Settlement date: | April 19
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| Agent: | J.P. Morgan Securities LLC
|
| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2.5% including a structuring fee of 0.5%
|
| Cusip: | 48133VUL2
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