By Angela McDaniels
Tacoma, Wash., July 12 – JPMorgan Chase Financial Co. LLC priced $1.36 million of 0% uncapped dual directional contingent buffered return enhanced notes due Jan. 13, 2020 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final share price of each ETF is greater than its initial share price, the payout at maturity will be par plus two times the return of the lesser-performing ETF.
If the final share price of one ETF is greater than its initial share price and the final share price of the other ETF is equal to or less than its initial share price by up to 30%, the payout will be par plus the absolute value of the lesser-performing ETF’s return.
If the final share price of either ETF is less than its initial share price by more than 30%, investors will lose 1% for every 1% that the lesser-performing ETF’s final share price is below its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional contingent buffered return enhanced notes
|
| Underlying ETFs: iShares MSCI EAFE and iShares MSCI Emerging Markets
|
| Amount: | $1,359,000
|
| Maturity: | Jan. 13, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes above its initial share price, par plus two times return of lesser-performing ETF; if one ETF finishes above initial share price and other ETF falls by up to 30%, par plus absolute value of lesser-performing ETF’s return; if either ETF falls by more than 30%, full exposure to decline of lesser-performing ETF
|
| Initial share prices: | $55.24 for EAFE ETF and $34.50 for EM ETF
|
| Pricing date: | July 8
|
| Settlement date: | July 13
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 46646ENV0
|
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