By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – JPMorgan Chase Financial Co. LLC priced $3.26 million of autocallable contingent interest notes due Oct. 17, 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 will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon of 10.8% a year if the ETF closes at or above its trigger value, 75% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if the ETF closes at or above its initial share price on Jan. 11, 2018, April 12, 2018 or July 12, 2018.
The payout at maturity will be par unless the final share price is less than the trigger value, in which case investors will be fully exposed to the ETF’s decline from 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 ETF: | SPDR S&P Oil & Gas Exploration & Production
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| Amount: | $3,263,000
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| Maturity: | Oct. 17, 2018
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| Contingent payment: | 10.8% annualized, payable quarterly if ETF closes at or above trigger value on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if ETF finishes at or above trigger value; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if ETF closes at or above initial level on Jan. 11, 2018, April 12, 2018 or July 12, 2018
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| Initial ETF level: | $34.09
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| Trigger level: | $25.5675, 75% of initial level
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agents: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129HBC0
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