New Issue: JPMorgan sells $650,000 review notes due 2019 on oil, financial funds

By Susanna Moon

Chicago, May 23 – JPMorgan Chase Financial Co. LLC priced $650,000 of 0% review notes due Nov. 14, 2019 linked to the worse performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized call premium of 14% if each underlying fund closes at or above its initial level on any quarterly review date.

If the notes are not called, the payout at maturity will be par unless either fund finishes below 70% trigger level, in which case investors will be fully exposed to the decline 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
Guarantor:	JPMorgan Chase & Co.
Issue:	Review notes
Underlying funds:	SPDR S&P Oil & Gas Exploration & Production ETF, Financial Select Sector SPDR Fund
Amount:	$650,000
Maturity:	Nov. 14, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless either fund finishes below trigger, in which case 1% loss for each 1% decline of worse performing fund
Call:	At par plus 14% annualized if each fund closes at or above initial level on any quarterly review date
Initial levels:	$41.27 for oil fund, $28.26 for financial fund
Trigger levels:	$28.889 for oil fund, $19.782 for financial fund, 70% of initial levels
Pricing date:	May 11
Settlement date:	May 18
Agent:	J.P. Morgan Securities LLC
Fees:	1.45%
Cusip:	48129MSQ0

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