By Marisa Wong
Morgantown, W.Va., Jan. 25 – JPMorgan Chase Financial Co. LLC priced $1.25 million of 0% digital notes due Feb. 7, 2018 linked to the performance of the dollar relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the reference currency return is positive or zero – the dollar appreciates or remains flat relative to the euro from the starting spot rate to the ending spot rate – the payout at maturity will be par plus the contingent digital return of 10%.
If the reference currency return is negative – the dollar depreciates relative to the euro – but the ending spot rate is less than or equal to 108.25% of the starting spot rate, the payout will be par.
If the reference currency return is negative and the ending spot rate is greater than the trigger value, investors will be fully exposed to losses.
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: | Digital notes
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| Underlying currency: | Dollar relative to euro
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| Amount: | $1.25 million
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| Maturity: | Feb. 7, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the reference currency return is positive or zero, par plus 10%; if the reference currency return is negative but the ending spot rate is less than or equal to 108.25% of the starting spot rate, par; if the reference currency return is negative and the ending spot rate is greater than the trigger value, investors will be fully exposed to losses
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| Starting spot rate: | 1.06785
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| Trigger value: | 1.15595, 108.25% of starting spot rate
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646QVN2
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