By Susanna Moon
Chicago, June 7 – JPMorgan Chase Financial Co. LLC priced $1.29 million of callable contingent interest notes due May 28, 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 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.25% if each component closes at or above its coupon barrier, 70% of its initial level, on the review date for that quarter.
The notes are callable at par plus the contingent coupon on any review date other than the first, second, third and final dates.
The payout at maturity will be par plus the contingent coupon unless any component finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing component.
JPMorgan Chase & Co. is the guarantor.
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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| Underlying assets: | Energy Select Sector SPDR fund, the Financial Select Sector SPDR fund and the Consumer Staples Select Sector SPDR fund
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| Amount: | $1,286,000
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| Maturity: | May 28, 2021
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| Coupon: | 6.25%, payable quarterly if each component closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any component falls below 60% trigger, in which case 1% loss for each 1% decline of worst performing component
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| Call: | At par on any review date other than first, second, third and final dates
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| Initial levels: | $66.50 for energy fund, $23.62 for financial fund and $56.29 for consumer fund
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| Coupon barriers: | $46.55 for energy fund, $16.534 for financial fund and $39.403; 70% of initial levels
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| Trigger levels: | $39.90 for energy fund, $14.172 for financial fund and $33.774 for consumer fund; 60% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46647MBR3
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