By Wendy Van Sickle
Columbus, Ohio, March 8 – JPMorgan Chase Financial Co. LLC priced $518,000 of autocallable contingent interest notes due March 5, 2020 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 month, the notes will pay a contingent coupon at a rate of 10% per year if each underlying fund closes at or above its interest barrier, 55% of its initial level, on the review date for that month.
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 quarterly autocall review date after six months.
If the notes have not been called, the payout at maturity will be par unless either fund finishes below its 55% 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: | $518,000
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| Maturity: | March 5, 2020
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| Coupon: | 10% per year, payable each month that each underlying fund closes at or above its barrier on the review date for that month
|
| 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
|
| Call: | At par plus the contingent coupon if each underlying fund closes at or above its initial level on any quarterly autocall review date after six months
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| Initial prices: | $71.47 for biotech ETF, $38.89 for oil ETF
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| Barrier/trigger values: | $39.308 for biotech ETF and $21.3895 for oil ETF; 55% of initial prices
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 46646QLW3
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