By Devika Patel
Knoxville, Tenn., April 10 – JPMorgan Chase Financial Co. LLC priced $1.47 million of callable contingent interest notes due April 6, 2021 linked to the least performing of the Energy Select Sector SPDR fund, the Financial Select Sector SPDR fund and the Consumer Staples 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 6.4% if each fund closes at or above its trigger 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 on any interest payment date other than the final one beginning on April 5, 2018.
If the notes have not been called, the payout at maturity will be par unless any of the funds finish below its trigger level, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performing fund.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying funds: | Energy Select Sector SPDR, Financial Select Sector SPDR and Consumer Staples Select Sector SPDR
|
| Amount: | $1,471,000
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| Maturity: | April 6, 2021
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 6.4% if each fund closes at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund finishes below trigger level, in which case 1% loss for every 1% decline of worst-performing fund
|
| Call: | At par on any quarterly review date other than final one beginning on April 5, 2018
|
| Initial levels: | $69.21 for Energy Select Sector SPDR, $23.77 for Financial Select Sector SPDR and $54.75 for Consumer Staples Select Sector SPDR
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| Trigger levels: | $41.526 for Energy Select Sector SPDR, $14.262 for Financial Select Sector SPDR and $32.85 for Consumer Staples Select Sector SPDR; 60% of initial levels
|
| Pricing date: | March 28
|
| Settlement date: | March 31
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 46646QT62
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