By Marisa Wong
Morgantown, W.Va., March 6 – JPMorgan Chase Financial Co. LLC priced $1.5 million of autocallable contingent interest notes due March 5, 2019 linked to the lesser performing of the SPDR S&P Biotech exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF, 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 a rate of 10.5% per year if each underlying fund closes at or above its interest barrier, 60% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each underlying fund closes at or above its initial level on any review date other than the first and final ones.
If the notes have not been called, the payout at maturity will be par unless either fund finishes below its 60% trigger value, in which case investors will lose 1% for every 1% that the worse performer declines from 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 ETFs: | SPDR S&P Biotech ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1.5 million
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| Maturity: | March 5, 2019
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| Coupon: | 10.5% per year, payable each quarter that each underlying fund closes at or above its barrier on the review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either fund finishes below its trigger value, in which case investors will lose 1% for every 1% that the worse performer declines from its initial level
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| Call: | At par plus the contingent coupon if each underlying fund closes at or above its initial level on any review date other than the first and final ones
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| Initial prices: | $70.21 for biotech ETF, $37.86 for oil ETF
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| Barrier/trigger values: | $42.126 for biotech ETF and $22.716 for oil ETF; 60% of initial prices
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.175%
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| Cusip: | 46646QLU7
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