By William Gullotti
Buffalo, N.Y., April 23 – JPMorgan Chase Financial Co. LLC priced $7.13 million of 0% bearish jump securities due May 5, 2025 linked inversely to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The payout at maturity will be par plus 37% if the index finishes flat or declines.
Investors will lose 1% for each 1% index gain, with a minimum payout of zero.
J.P. Morgan Securities LLC is the agent, with Morgan Stanley Wealth Management serving as dealer.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Bearish jump securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $7,125,000
|
| Maturity: | May 5, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 37% if index finishes at or below initial level; otherwise, 1% loss for each 1% gain of the index
|
| Initial level: | 5,022.21
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.25%
|
| Cusip: | 48134XNJ0
|
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