By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – JPMorgan Chase Financial Co. LLC priced $10.02 million of contingent coupon autocallable yield notes due Feb. 26, 2020 linked to the SPDR S&PBiotech ETF, the Technology Select Sector SPDR fund and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 15% if each asset closes above its 72.5% barrier on the observation date for that quarter.
The notes will be called at par if each asset closes at or above its initial level on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless any asset finishes below its barrier, in which case investors will be fully exposed to the decline of the least-performing asset.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying assets: | SPDR S&PBiotech ETF, Technology Select Sector SPDR fund and SPDR S&P Bank ETF
|
| Amount: | $10,017,000
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| Maturity: | Feb. 26, 2020
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| Coupon: | 15% per year, payable quarterly if each asset closes at or above barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any asset finishes below its barrier level, in which case 1% loss for each 1% decline of the worst-performing asset
|
| Call option: | At par if each index closes at or above its initial level on any quarterly observation date
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| Initial levels: | $91.05 for Biotech, $66.81 for Technology, $50.55 for Bank
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| Barrier levels: | $66.01125 for Biotech, $48.43725 for Technology, $36.64875 for Bank, 72.5% of initial levels
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
|
| Cusip: | 48129H6Z5
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