By Susanna Moon
Chicago, April 19 – JPMorgan Chase Financial Co. LLC priced $4.57 million of trigger autocallable contingent yield notes due April 16, 2021 linked to the lesser performing of the SPDR Euro Stoxx 50 ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.7% if each fund closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called if each fund closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless either fund finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing fund.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying funds: | SPDR Euro Stoxx 50 ETF and the iShares Russell 2000 ETF
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| Amount: | $4,571,750
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| Maturity: | April 16, 2021
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| Coupon: | 7.7% annualized, payable quarterly if each fund closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each fund finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline of worse performing fund
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| Call: | At par if each fund closes at or above its initial level on each quarterly observation date beginning Oct. 15, 2018
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| Initial levels: | $41.36 for Stoxx fund, $153.95 for Russell fund
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| Downside thresholds: | $28.95 for Stoxx fund, $107.77 for Russell fund; 70% of initial levels
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| Pricing date: | April 13
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| Settlement date: | April 18
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129L249
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