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Published on 1/9/2017 in the Prospect News Structured Products Daily.

New Issue: JPMorgan prices $4 million digital notes linked to oil, copper

By Angela McDaniels

Tacoma, Wash., Jan. 9 – JPMorgan Chase Financial Co. LLC priced $4 million of 0% digital notes due Jan. 22, 2018 linked to the lesser performing of the first nearby month futures contract for West Texas Intermediate crude oil and the spot price of grade A copper, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the final value of each commodity is greater than or equal to its trigger level, 70% of its initial price, the payout at maturity will be par plus 8%. If the final value of either commodity is less than its trigger level, investors will lose 1% for every 1% that the lesser-performing commodity declines from its initial price.

J.P. Morgan Securities LLC is the underwriter.

Issuer:JPMorgan Chase Financial Co. LLC
Guarantor:JPMorgan Chase & Co.
Issue:Digital notes
Underlying commodities:West Texas Intermediate crude oil and grade A copper
Amount:$4 million
Maturity:Jan. 22, 2018
Coupon:0%
Price:Par
Payout at maturity:If final value of each commodity is greater than or equal to trigger level, par plus 8%; if final value of either commodity is less than trigger level, 1% loss for every 1% that lesser-performing commodity declines from initial price
Initial commodity prices:$53.76 for oil and $5,611.00 for copper
Final commodity prices:For each commodity, average of its prices on five trading days ending Jan. 17, 2018
Trigger levels:$37.632 for oil and $3,927.70 for copper, or 70% of initial prices
Pricing date:Jan. 5
Settlement date:Jan. 10
Underwriter:J.P. Morgan Securities LLC
Fees:1%
Cusip:46646QTN5

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