By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – JPMorgan Chase Financial Co. LLC priced $1.72 million of autocallable contingent interest notes due Dec. 3, 2021 linked to the lesser performing of the Energy Select Sector SPDR fund, the Technology Select Sector SPDR fund and the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.75% if each fund closes at or above its trigger value, 55% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each fund closes at or above its initial share price on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless any fund finishes below its trigger value, in which case investors will lose 1% for every 1% that the least performing fund finishes below its initial share price.
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: | Autocallable contingent interest notes
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| Underlying funds: | Energy Select Sector SPDR fund, Technology Select Sector SPDR fund and Health Care Select Sector SPDR fund
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| Amount: | $1.72 million
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| Maturity: | Dec. 11, 2018
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| Coupon: | 6.75% per year, payable quarterly if each fund closes at or above trigger value on review date that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any fund finishes below trigger value, in which case 1% loss for every 1% that least performing fund finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each fund closes at or above initial level on any review date either than first and final review dates
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| Initial index levels: | $75.35 for Energy, $47.28 for Technology and $68.48 for Health Care
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| Trigger values: | $41.4425 for Energy, $26.004 for Technology and $37.664 for Health Care; 55% of initial levels
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.1%
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| Cusip: | 46646QEN1
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