By Wendy Van Sickle
Columbus, Ohio, April 20 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% digital knock-out notes due May 4, 2018 linked to the worse performing of the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The final level of the fund will be the average of its closing levels on the five days ending May 1, 2018.
The payout at maturity will be par plus 10.2% unless the fund closes below 70% of its initial level any day during the life of the notes, in which case investors will receive par if the fund finishes above its initial level and will have full exposure to any loss in the final level of the fund.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Digital knock-out notes
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| Underlying ETF: | VanEck Vectors Oil Services
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| Amount: | $1 million
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| Maturity: | May 4, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 10.2% unless fund closes below 70% of initial level any day during life of the notes, in which case par if fund finishes above its initial level and full exposure to any loss in the final level of the fund
|
| Initial level: | $29.73
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| Final level: | Average of closing levels on the five days ending May 1, 2018
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646Q5Y7
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