By Devika Patel
Knoxville, Tenn., Aug. 9 – JPMorgan Chase Financial Co. LLC priced $900,000 of callable contingent interest notes due Aug. 16, 2021 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.
The notes will pay a quarterly contingent coupon at an annual rate of 5.55% if each fund closes at or above its coupon barrier level, 60% of its initial level, on the review date for that period.
Beginning on Aug. 14, 2018, the notes may be called at par in whole but not in part on any interest payment date other than the final one.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless any of the funds has finished below its trigger value, 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.
|
| Issue: | Callable contingent interest notes
|
| Underlying funds: | Energy Select Sector SPDR, Financial Select Sector SPDR, Consumer Staples Select Sector SPDR
|
| Amount: | $900,000
|
| Maturity: | Aug. 16, 2021
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 5.55% if each fund closes at or above coupon barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any fund finishes below trigger level, in which case 1% loss for every 1% decline of worst-performing fund
|
| Call: | At par plus contingent coupon if each fund closes at or above initial level on any review date other than final one, beginning on Aug. 14, 2018
|
| Initial levels: | $65.14 for Energy Select, $25.35 for Financial Select and $55.43 for Consumer Staples
|
| Coupon barrier levels: | $39.084 for Energy Select, $15.21 for Financial Select and $33.258 for Consumer Staples; 60% of initial levels
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| Trigger levels: | $39.084 for Energy Select, $15.21 for Financial Select and $33.258 for Consumer Staples; 60% of initial levels
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 10
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 46647MJ79
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