By Emma Trincal
New York, Oct. 17 – JPMorgan Chase Financial Co. LLC priced $7.88 million of 0% trigger autocallable notes due Oct. 21, 2020 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $10 plus an annualized call return of 9% if the ETF closes at or above the initial price on any quarterly observation date beginning April 16, 2019.
If the notes are not called and the final price is greater than or equal to the 80% downside threshold level, the payout at maturity will be par. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable notes
|
| Underlying ETF: | SPDR S&P 500 ETF Trust
|
| Amount: | $7.88 million
|
| Maturity: | Oct. 21, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par if ETF shares finish at or above trigger price; otherwise, full exposure to share price decline
|
| Call: | Automatically at par plus 9% per year if ETF shares close at or above initial share price on any observation date, which occurs every quarter after six months
|
| Initial share price: | $280.40
|
| Trigger price: | $224.32, 80% of initial price
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 19
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48130V525
|
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