By Devika Patel
Knoxville, Tenn., June 23 – JPMorgan Chase Financial Co. LLC priced $2.24 million of trigger autocallable contingent yield notes due June 25, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 7.45% per year if the ETF closes at or above the coupon barrier level, 60% of the initial price, on the observation date for that quarter.
Beginning Dec. 21, 2017, the notes will be automatically called at par of $10 if the ETF closes at or above the initial price on any observation date.
If the notes are not called and the final ETF price is greater than or equal to the downside threshold level, 60% of the initial price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final ETF price is less than the initial share price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETF: | VanEck Vectors Gold Miners
|
| Amount: | $2,235,000
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| Maturity: | June 25, 2020
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| Contingent coupon: | 7.45%, payable quarterly if ETF closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon unless ETF finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
| Call: | Beginning Dec. 21, 2017, automatically at par if ETF closes at or above initial level on any quarterly observation date
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| Initial price: | $22.11
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| Coupon barrier level: | $13.27, 60% of initial price
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| Downside threshold level: | $13.27, 60% of initial price
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| Pricing date: | June 21
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| Settlement date: | June 26
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48129G638
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