By Kiku Steinfeld
Chicago, Nov. 2 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% buffered digital dual directional notes due April 8, 2024 linked to the VanEck Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes at or above its initial level, the payout at maturity will be par plus 13.5%.
If the ETF declines by up to 15%, the payout at maturity will be par plus the absolute value of the ETF’s return.
Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 15%.
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: | Buffered digital dual directional notes
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Underlying fund: | VanEck Semiconductor ETF
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Amount: | $500,000
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Maturity: | April 8, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF finishes at or above initial level, par plus 13.5%; if ETF declines by up to 15%, par plus absolute value of ETF’s return; otherwise, 1% loss for every 1% that ETF declines beyond 15%
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Initial level: | $263.19
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Buffer level: | 85% of initial level
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Pricing date: | March 31, 2023
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Settlement date: | April 5, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48133VDG2
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