By Wendy Van Sickle
Columbus, Ohio, April 12 – JPMorgan Chase Financial Co. LLC priced $2.5 million of 0% review notes due April 14, 2021 linked to the lesser performing of the Financial Select Sector SPDR fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 13.5% per year if each ETF closes at or above its initial price on any annual review date.
If the notes are not called, the payout at maturity will be par unless either ETF finishes below 70% of its initial price, in which case investors will be fully exposed to the decline of the worse performing ETF.
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: | Review notes
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| Underlying ETFs: | SPDR S&P Regional Banking ETF and Financial Select Sector SPDR fund
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| Amount: | $2.5 million
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| Maturity: | April 14, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless either ETF falls by more than 30%, in which case 1% loss for each 1% decline of worse performing ETF
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| Call: | At par plus 13.5% per year if each ETF closes at or above initial price on any annual review date
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| Initial prices: | $27.73 for financial ETF and $60.49 for regional banking ETF
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| Contingent buffer levels: | 70% of initial prices
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| Pricing date: | April 10
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| Settlement date: | April 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129MMK9
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