By Wendy Van Sickle
Columbus, Ohio, May 29 – JPMorgan Chase Financial Co. LLC priced $3.19 million of callable contingent interest notes due May 27, 2021 linked to the S&P 500 index 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 quarterly coupon at an annual rate of 8.6% if each underlying asset closes at or above its 70% interest barrier on the review date for that quarter.
The notes may be called in whole but not in part on any interest payment date other than the first, second third, fourth, fifth and final dates.
The payout at maturity will be par unless either asset finishes below its 70% trigger level, in which case investors will lose 1% for each 1% that the least-performing asset 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 assets: | S&P 500 index and SPDR S&P Biotech ETF
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| Amount: | $3.19 million
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| Maturity: | May 27, 2021
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| Coupon: | 8.6% annualized, payable quarterly if each asset closes at or above 70% interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below 70% trigger, in which case 1% loss for each 1% decline of laggard asset
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| Call: | Callable at par on any interest payment date other than first, second, third, fourth, fifth and final dates
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| Initial levels: | 2,733.29 for S&P, $92.44 for ETF
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| Interest barrier/trigger level: | 1,913.303 for S&P, $64.708 for ETF; 70% of initial levels
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| Pricing date: | May 23
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| Settlement date: | May 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48129MUM6
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