By Wendy Van Sickle
Columbus, Ohio, Nov. 27 – JPMorgan Chase Financial Co. LLC priced $263,000 of 0% dual directional knock-out notes due Nov. 30, 2021 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
A knock-out event occurs if the index’s closing level is greater or less than the initial level by more than 18.5% on any day during the life of the notes.
If a knock-out event has not happened, the payout at maturity will be par plus the absolute value of the index return. If a knock-out event has occurred, the payout will be par plus 2%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $263,000
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| Maturity: | Nov. 30, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If knock-out event has not occurred, par plus absolute value of index return; if knock-out event has occurred, par plus 2%
|
| Knock-out event: | Index’s closing level is greater or less than initial level by more than 18.5% during life of notes
|
| Initial level: | 3,110.29
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132FT22
|
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