By Marisa Wong
Morgantown, W.Va., Feb. 16 – JPMorgan Chase Financial Co. LLC priced $34.27 million of 0% autocallable buffered equity notes due Feb. 19, 2020 linked to the S&P Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index closes at or above its initial level on either of two call observation dates, the notes will be automatically called at par plus a call premium. The call premium is 9.9667% if the notes are called on March 13, 2018 and 18.4% if the notes are called on Feb. 13, 2019.
If the notes are not called and the index return is zero or positive, the payout at maturity will be par plus 27.6%.
If the index falls by up to 10%, the payout will be par. If the index falls by more than 10%, investors will lose 1.1111% for every 1% decline beyond 10%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable buffered equity notes
|
| Underlying index: | S&P Banks Select Industry index
|
| Amount: | $34,265,000
|
| Maturity: | Feb. 19, 2020
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is zero or positive, par plus 27.6%; if index falls by up to 10%, par; if index falls by more than 10%, 1.1111% loss for every 1% decline beyond 10%
|
| Call: | Automatically at par plus a call premium if index closes at or above its initial level on either of two call observation dates; call premium is 9.9667% if the notes are called on March 13, 2018 and 18.4% if the notes are called on Feb. 13, 2019
|
| Initial level: | 979.34
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 21
|
| Agent: | JPMorgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 46646QA47
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