By Marisa Wong
Morgantown, W.Va., June 19 – JPMorgan Chase Financial Co. LLC priced $14.17 million of 0% capped enhanced participation currency-linked notes due July 18, 2018 linked to the U.S. dollar/Japanese yen exchange rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The currency return will be positive if the dollar strengthens relative to the yen.
If the currency return is positive, the payout at maturity will be par plus 1.73 times the currency return, up to a maximum settlement amount of $2,730 per $1,000 note.
If the currency return is zero or negative, the payout will be par plus the currency return, subject to minimum payment of zero. If the final exchange rate is less than or equal to 50% of the strike rate, investors will lose their entire investment.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped enhanced participation currency-linked notes
|
| Underlying currencies: | Dollar relative to Japanese yen
|
| Amount: | $14,167,000
|
| Maturity: | July 18, 2018
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the currency return is positive, par plus 1.73 times the currency return, up to a maximum settlement amount of $2,730 per $1,000 note; if the currency return is zero or negative, par plus the currency return, subject to minimum payment of zero
|
| Initial spot rate: | 110.14
|
| Pricing date: | June 13
|
| Settlement date: | June 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.93%
|
| Cusip: | 46647MLR2
|
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