By Wendy Van Sickle
Columbus, Ohio, July 20 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due July 21, 2022 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 will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon of 13.5% per year if the ETF closes at or above its interest barrier, 80% of its initial level, on the review date for that quarter.
Beginning Jan. 17, 2018, the notes will be automatically called at par plus the contingent coupon if the ETF closes at or above its initial level on any quarterly review date other than the final one.
If the notes have not been called, the payout at maturity will be par plus the final coupon, if any, unless the ETF finishes below its 51.5% trigger value, in which case investors will lose 1% for every 1% that the ETF finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production
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| Amount: | $1 million
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| Maturity: | July 21, 2022
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| Coupon: | 13.5% annualized, payable quarterly if ETF closes at or above 80% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless ETF finishes below 51.5% trigger, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if ETF closes at or above initial level on any review date other than final date
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| Initial level: | $31.89
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| Coupon barrier: | $25.512, 51.5% of initial level
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| Trigger level: | $16.42335, 80% of initial level
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| Pricing date: | July 17
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| Settlement date: | July 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 46647MWY5
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