By Devika Patel
Knoxville, Tenn., April 21 – JPMorgan Chase Financial Co. LLC priced $2 million of callable contingent interest notes due April 29, 2019 linked to the least performing of the SPDR S&P Biotech exchange-traded fund, the SPDR S&P Oil & Gas Exploration & Production ETF and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a quarterly contingent coupon at an annual rate of 16.5% if each ETF closes at or above its coupon level, 60% of its initial level, on the review date for that period.
The notes may be called at par in whole but not in part beginning on Oct. 26, 2017 on any interest payment date other than the final one.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless either of the ETFs has finished below its trigger value, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performing ETF.
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: | Callable contingent interest notes
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| Underlying ETFs: | SPDR S&P Biotech, SPDR S&P Oil & Gas Exploration & Production, VanEck Vectors Gold Miners exchange-traded fund
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| Amount: | $2 million
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| Maturity: | April 29, 2019
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 16.5% if each ETF closes at or above coupon barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either ETF finishes below 60% of its initial value, in which case 1% loss for every 1% decline of worst-performing ETF
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| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any review date other than final one, beginning on Oct. 26, 2017
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| Initial levels: | $68.09 for Biotech, $34.95 for Oil and $23.39 for Gold
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| Coupon/Trigger levels: | $40.854 for Biotech, $20.97 for Oil and $14.034 for Gold; 60% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.875%
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| Cusip: | 46646QRD9
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