By Marisa Wong
Morgantown, W.Va., Aug. 31 – JPMorgan Chase Financial Co. LLC priced $10.93 million of trigger autocallable contingent yield notes due Sept. 4, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 11% per year if the ETF’s shares close at or above the downside threshold level, 65.5% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the ETF closes at or above the initial share price on any quarterly observation date beginning Feb. 28.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
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 ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $10,931,000
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| Maturity: | Sept. 4, 2019
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| Coupon: | 11% per year, payable each quarter that ETF’s shares close at or above the downside threshold level on the observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If the final share price is greater than or equal to the downside threshold level, par; otherwise, 1% loss for every 1% that the final share price is less than the initial share price
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| Call: | At par if the ETF closes at or above the initial share price on any quarterly observation date beginning Feb. 28
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| Initial price: | $37.59
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| Downside threshold: | $24.62, 65.5% of initial price
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2%
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| Cusip: | 46646X597
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