New Issue: JPMorgan prices $200,000 inverse knock-out notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 29 – JPMorgan Chase Financial Co. LLC priced $200,000 of 0% inverse knock-out notes due Feb. 12, 2020 linked 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.

If the final index level is less than the initial index level but greater than or equal to the knock-out level, the payout at maturity will be par plus the absolute value of the index return. The knock-out level is 83.5% of the initial index level.

If the final index level is greater than or equal to the initial index level or is less than the knock-out level, the payout will be par.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Inverse knock-out notes
Underlying index:	S&P 500
Amount:	$200,000
Maturity:	Feb. 12, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is less than initial index level but greater than or equal to knock-out level, par plus absolute value of index return; if final index level is greater than or equal to initial index level or is less than knock-out level, par
Initial index level:	2,664.76
Knock-out level:	2,225.0746, 83.5% of initial index level
Final index level:	Average of index’s closing levels on five trading days ending Feb. 7, 2020
Pricing date:	Jan. 25
Settlement date:	Jan. 30
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48130WTQ4

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