By Wendy Van Sickle
Columbus, Ohio, March 29 – JPMorgan Chase Financial Co. LLC priced $7.69 million of callable contingent interest notes due March 31, 2020 linked to the lesser performing of the Euro Stoxx 50 index 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 will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.25% if each underlying closes at or above its interest barrier, 60% of its initial level, on the review date for that quarter.
The notes are callable at par on any interest payment date other than the final date.
If the notes have not been called, the payout at maturity will be par unless either underlying finishes below its 60% trigger value, in which case investors will lose 1% for every 1% that the worse performer declines from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
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| Underliers: | Euro Stoxx 50 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $7,688,000
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| Maturity: | March 31, 2020
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 10.25% if each underlying component closes at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless either underlying component finishes below trigger value, in which case exposure to decline of lesser-performing underlying component from initial level
|
| Call: | Callable at par plus contingent coupon, if any, on any interest payment date other than final one
|
| Initial levels: | 3,444.15 for index and $35.21 for ETF
|
| Interest barrier/trigger: | 2,066.49 for index and $21.126 for ETF, or 60% of initial levels
|
| Pricing date: | March 24
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| Settlement date: | March 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.1%
|
| Cusip: | 46646QMR3
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