By Tali Rackner
Minneapolis, May 14 – JPMorgan Chase Financial Co. LLC priced $500,000 of callable contingent interest notes due April 27, 2021 linked to the Health Care Select Sector SPDR Fund and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent semiannual coupon at an annual rate of 7.75% if each fund closes at or above its 70% interest barrier on the review date for that period.
The notes may be called in whole but not in part on any interest payment date other than the final date.
The payout at maturity will be par unless either fund finishes below its 70% trigger level, in which case investors will lose 1% for each 1% that the lesser-performing fund is less than 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: | Callable contingent interest notes
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| Underlying funds: | Health Care Select Sector SPDR Fund, SPDR S&P Biotech ETF
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| Amount: | $500,000
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| Maturity: | April 27, 2021
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| Coupon: | 7.75% annualized, payable semiannually if each fund closes at or above 70% interest barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either fund finishes below 70% trigger, in which case 1% loss for each 1% decline of lesser-performing fund
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| Call: | Callable in whole at par on any interest payment date other than final date
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| Initial levels: | $82.09 for Health Care Select, $88.93 for biotech ETF
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| Interest barrier/trigger levels: | $57.463 for Health Care Select, $62.251 for biotech ETF; 70% of initial levels
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| Pricing date: | April 20
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| Settlement date: | April 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.45%
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| Cusip: | 48129MML7
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