By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – JPMorgan Chase Financial Co. LLC priced $500,000 of callable contingent interest notes due Feb. 19, 2020 linked to the least performing of the S&P 500 index and the Financial Select Sector SPDR fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 3.95% if each asset closes at or above its barrier level, 60% of its initial level, on the review date for that quarter.
The notes may be called at par in whole but not in part after Feb. 21, 2018 on any interest payment date other than the final one.
If the notes have not been called, the payout at maturity will be par unless either of the assets has finished below its trigger level, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performing underlying.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlyings: | S&P 500 index and Financial Select Sector SPDR fund
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| Amount: | $500,000
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| Maturity: | Feb. 19, 2020
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| Coupon: | 3.95% payable quarterly if each asset closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either underlying finishes below trigger level, in which case 1% loss for every 1% decline of worst-performing asset
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| Call: | Beginning on Feb. 21, 2018, at par on any quarterly review date other than final one
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| Initial levels: | 2,328.25 for index, $24.05 for ETF
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| Barrier/trigger levels: | 1,396.95 for index, $14.43 for ETF; 60% of initial levels
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 46646QD85
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