By Susanna Moon
Chicago, March 19 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due March 4, 2021 linked to the Energy Select Sector SPDR Fund and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.25% if each underlying fund closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either fund finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Autocallable contingent interest notes
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| Underlying assets: | Energy Select Sector SPDR and Financial Select Sector SPDR
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| Amount: | $1 million
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| Maturity: | March 4, 2021
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| Coupon: | 9.25% annualized, payable monthly if each fund closes at or above 70% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either fund finishes below trigger, in which case 1% loss for each 1% decline of worse performing fund
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| Call: | At par plus contingent coupon if each fund closes at or above initial level on any quarterly review date beginning Sept. 4, 2018
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| Initial levels: | $66.64 for energy fund, $28.37 for financial fund
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| Strike levels: | $46.648 for energy fund, $19.859 for financial fund, 70% of initial levels
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| Pricing date: | March 1
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| Pricing date: | March 2
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| Settlement date: | March 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48129MBZ8
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