By Marisa Wong
Morgantown, W.Va., Nov. 16 – JPMorgan Chase Financial Co. LLC priced $4.68 million of 0% partial principal-at-risk notes due Nov. 15, 2019 linked to the five-year euro ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The payout at maturity will be $890 per $1,000 principal amount plus an additional amount. The additional amount will be $1,000 times 16 times the difference of the final reference rate minus the strike rate, subject to a floor of zero.
Investors will lose up to 11% if the final reference rate does not exceed 0.9375%, or 68.75 basis points above the strike rate. The strike rate was set at 0.25%, which is higher than the reference rate at pricing.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Partial principal-at-risk notes
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| Underlying: | Five-year euro ICE swap rate
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| Amount: | $4,675,000
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| Maturity: | Nov. 15, 2019
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| Coupon: | 0%
|
| Price: | Par of $1,000
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| Payout at maturity: | (a) $890 plus (b) $1,000 times 16 times the difference of the final reference rate minus the strike rate, subject to a floor of zero
|
| Strike rate: | 0.25% (set higher than reference rate on pricing date, which was 0.137%)
|
| Pricing date: | Nov. 11
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| Settlement date: | Nov. 16
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46646E7G1
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