By Wendy Van Sickle
Columbus, Ohio, Aug. 18 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% digital knock-out notes due Sept. 5, 2018 linked to the worse performing of 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.
The final level of the fund will be the average of its closing levels on the five days ending Aug. 30, 2018.
The payout at maturity will be par plus 11.5% unless the fund closes below 70% of its initial level any day during the life of the notes and finishes below the 70% buffer level, in which case investors will have full exposure to any loss in the final level of the fund.
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: | Digital knock-out 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: | Sept. 5, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 11.5% unless fund closes below 70% of initial level any day during life of the notes and finishes below 70% buffer level, in which case full exposure to any loss in the final level of the fund
|
| Initial level: | $29.97
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| Final level: | Average of closing levels on the five days ending Aug. 30, 2018
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46647MMZ3
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