By Susanna Moon
Chicago, Jan. 18 – JPMorgan Chase Financial Co. LLC priced $1.22 million of autocallable contingent interest notes due Jan. 31, 2018 linked to 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.
The notes will pay a contingent quarterly coupon at an annual rate of 11.8% if the fund closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the fund finishes below its 70% trigger level, in which case investors will be fully exposed to any 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: | Autocallable contingent interest notes
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,215,000
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| Maturity: | Jan. 31, 2018
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| Issue price: | Par
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| Coupon: | 11.8% annualized, payable quarterly if fund closes at or above 70% coupon barrier on review date for that quarter
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| Payout at maturity: | Par unless fund finishes below trigger level, in which case full exposure to any losses
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| Call: | At par plus contingent coupon if fund closes at or above initial level on any review date other than final date
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| Initial level: | $40.47
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| Trigger level: | $28.329, 70% of initial level
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646QUJ2
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