By Sarah Lizee
Olympia, Wash., Oct. 11 – JPMorgan Chase Financial Co. LLC priced $1.5 million of 0% capped dual directional contingent buffered equity notes due Oct. 22, 2020 tied to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the ETF finishes at or above the initial level, the payout at maturity will be par plus the return, capped at par plus 16.6%.
If the ETF falls but by no more than the 30.4% contingent buffer, the payout will be par plus the absolute value of the return.
If the ETF falls by more 30.4%, investors will lose 1% for each 1% decline of the ETF.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped dual directional contingent buffered equity notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1.5 million
|
| Maturity: | Oct. 22, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF gains, par plus the return, capped at par plus 16.6%; if ETF falls but by no more than 30.4% contingent buffer, par plus absolute value of return; if ETF falls by more than 30.4%, investors will lose 1% for each 1% decline of the ETF
|
| Initial level: | $20.98
|
| Pricing date: | Oct. 7
|
| Settlement date: | Oct. 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132FXF8
|
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