By Angela McDaniels
Tacoma, Wash., Feb. 21 – JPMorgan Chase Financial Co. LLC priced $1.23 million of callable contingent interest notes due Feb. 25, 2020 linked to the lesser performing of the S&P 500 index and 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.
Every six months, the notes pay a contingent coupon at an annual rate of 9.25% if each underlying component closes at or above its trigger value, 60% of its initial level, on the review date for that semiannual period.
The notes are callable at par plus the contingent coupon, if any, on any interest payment date other than the final date.
If the notes have not been called, the payout at maturity will be par plus the final coupon, if any, unless either underlying component finishes below its trigger value, in which case investors will be exposed to the decline of the lesser-performing underlying component from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underliers: | S&P 500 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1.23 million
|
| Maturity: | Feb. 25, 2020
|
| Coupon: | Notes pay semiannual contingent coupon at annual rate of 9.25% if each underlying component closes at or above trigger value on review date for that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless either underlying component finishes below trigger value, in which case exposure to decline of lesser-performing underlying component from initial level
|
| Call: | Callable at par plus contingent coupon, if any, on any interest payment date other than final one
|
| Initial levels: | 2,349.25 for index and $40.19 for ETF
|
| Trigger values: | 1,409.55 for index and $24.114 for ETF, or 60% of initial levels
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.85%
|
| Cusip: | 46646QA70
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