By Wendy Van Sickle
Columbus, Ohio, July 25 – JPMorgan Chase Financial Co. LLC priced $1.46 million of 0% review notes due July 23, 2021 linked to the lesser-performing of the SPDR S&P Biotech exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production 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 be called at par plus a call premium of 16.5% per year if each fund closes at or above its initial level on any review date.
If the notes are not called and each fund finishes at or above its 60% trigger value, the payout at maturity will be par plus the contingent minimum return of 10%. Otherwise, investors will be fully exposed to the losses of the lesser-performing fund.
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: | Review notes
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| Underlying funds: | SPDR S&P Biotech ETF, SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1.46 million
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| Maturity: | July 23, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each fund finishes at or above trigger value, par plus 10%; otherwise full exposure to losses of lesser-performing fund
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| Call: | At par plus 16.5% per year if each fund closes at or above initial level on any review date
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| Initial levels: | $100.13 for biotech ETF, $42.50 for oil & gas ETF
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| Trigger levels: | $60.078 for biotech ETF, $25.50 for oil & gas ETF; 60% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48129MK62
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