New Issue: JPMorgan prices $36.19 million trigger step notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., July 28 – JPMorgan Chase Financial Co. LLC priced $36.19 million of 0% trigger step securities due July 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of 28.25% and the index return. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Trigger step securities
Underlying index:	S&P 500
Amount:	$36,193,160
Maturity:	July 31, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is zero or positive, par plus greater of 28.25% and index return; par if index declines by 25% or less; full exposure to decline from initial level if index declines beyond 25%
Initial level:	2,169.18
Downside threshold:	1,626.89, 75% of initial level
Pricing date:	July 26
Settlement date:	July 29
Agents:	UBS Financial Services Inc. and J.P. Morgan Securities LLC
Fees:	3%
Cusip:	46646W326

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