By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – JPMorgan Chase Financial Co. LLC priced $524,000 of autocallable contingent interest notes due Oct. 31, 2019 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 will pay a contingent quarterly coupon at an annual rate of 8.75% if each fund closes at or above its 70% coupon barrier on the review date.
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 other than the final date.
The payout at maturity will be par unless either underlying fund finishes below its initial level and ever closes below its 70% trigger level, in which case investors will be 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: | Financial Select Sector SPDR fund and SPDR S&P Regional Banking ETF
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| Amount: | $524,000
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| Maturity: | Oct. 31, 2019
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| Coupon: | 8.75% annualized, payable quarterly if each asset closes at or above coupon barrier on review date
|
| Price: | Par
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| Payout at maturity: | Par unless either fund finishes below initial level and ever closes below trigger, in which case 1% loss for each 1% decline of worse performing fund
|
| Call: | At par plus contingent coupon if each fund closes at or above initial level on any review date other than final date
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| Initial values: | $27.95 for Financial Select, $61.51 for Regional Banking
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| Coupon barrier/triggers: | $19.565 for Financial Select, $43.057 for Regional Banking, 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.58111%
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| Cusip: | 48129MG91
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