By Angela McDaniels
Tacoma, Wash., July 12 – JPMorgan Chase Financial Co. LLC priced $2.85 million of 0% Performance Leveraged Upside Securities due July 12, 2018 linked to the lesser performing of the Energy Select Sector SPDR fund and the SPDR S&P Oil & Gas Exploration & Production 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 of $10 plus 300% of the return of the lesser-performing ETF, subject to a maximum return of 67%. If the final share price of either ETF is less than or equal to its initial share price, investors will have one-to-one exposure to the decline of the lesser-performing ETF.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Performance Leveraged Upside Securities
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| Underlying ETFs: Energy Select Sector SPDR fund and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
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| Amount: | $2.85 million
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| Maturity: | July 12, 2018
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price of each ETF is greater than initial share price, par plus 300% of return of lesser-performing ETF, subject to 67% maximum return; if final share price of either ETF is less than or equal to initial share price, one-to-one exposure to decline of lesser-performing ETF
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| Initial share prices: | $67.71 for energy fund and $34.30 for oil & gas ETF
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| Pricing date: | July 8
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| Settlement date: | July 15
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 46646W235
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