By Susanna Moon
Chicago, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $5.3 million of contingent coupon callable yield notes due Feb. 12, 2020 linked to the lesser performing of the Materials Select Sector SPDR Fund and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each fund closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any interest payment dates other than the first, second, third and final dates.
The payout at maturity will be par unless either fund falls by more than 25%, in which case investors will be fully exposed to any losses of the worse performing fund.
The notes will be guaranteed by JPMorgan Chase & Co.
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: | Contingent coupon callable yield notes
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| Underlying assets: | Materials Select Sector SPDR fund and Energy Select Sector SPDR Fund
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| Amount: | $5.3 million
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| Maturity: | Feb. 12, 2020
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| Coupon: | 9.25% annualized, payable quarterly if each fund closes at or above its 75% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either fund falls by more than 25%, in which case 1% loss per 1% decline of worse performing fund
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| Call: | At par if each fund closes at or above initial level on any interest payment dates other than the first, second, third and final dates
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| Initial levels: | $59.51 for materials fund and $68.80 for energy fund
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| Trigger levels: | $44.6325 for materials fund and $51.60 for energy fund, 75% of initial levels
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129H5B9
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