By Wendy Van Sickle
Columbus, Ohio, April 12 – JPMorgan Chase Financial Co. LLC priced $2 million of 0% digital knock-out notes due April 18, 2018 linked to the worse performing of the Financial Select Sector SPDR fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The final level of each asset will be the average of their closing levels on the five days ending April 13, 2018.
The payout at maturity will be par plus 6.65% unless either asset closes below 70% of its initial level any day during the life of the notes, in which case investors will receive par if each asset finishes above its initial level and will have full exposure to any loss in the final level of the lesser-performing asset.
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: | Digital knock-out notes
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| Underlying assets: | Financial Select Sector SPDR fund, Russell 2000 index
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| Amount: | $2 million
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| Maturity: | April 18, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 6.65% unless either asset closes below 70% of initial level any day during life of the notes, in which case par if each asset finishes above its initial level and full exposure to any loss in the final level of the lesser-performing asset
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| Initial level: | $23.73 for fund 1,385.92 for Russell
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| Final level: | Average of closing levels on the five days ending April 13, 2018
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646Q4P7
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