By Devika Patel
Knoxville, Tenn., Jan. 31 – JPMorgan Chase Financial Co. LLC priced $3 million of 0% trigger Performance Leveraged Upside Securities due May 4, 2022 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
If the Apple shares finish at or above the initial level, the payout at maturity will be par of $10 plus double the stock return, up to a maximum payout of par plus 60%.
If the stock falls by up to the 75% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying stock: | Apple Inc. (Symbol: AAPL)
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| Amount: | $3 million
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| Maturity: | May 4, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If stock gains, par plus 200% of return, up to a maximum payout of par plus 60%; if stock falls by up to trigger level, par; otherwise, full exposure to any losses
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| Initial level: | $154.68
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| Trigger level: | $116.01, 75% of initial level
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48130X711
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