By Susanna Moon
Chicago, June 27 – JPMorgan Chase Financial Co. LLC priced $4.04 million of callable contingent interest notes due June 29, 2021 linked to the lesser performing of the SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8.5% if each fund closes at or above its 60% coupon barrier on the review date for that period.
The notes are callable at par on any interest payment date other than the final date.
The payout at maturity will be par unless either fund finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing fund.
The notes are guaranteed by JPMorgan Chase & Co.
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 funds: | SPDR S&P Biotech ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $4,038,000
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| Maturity: | June 29, 2021
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| Coupon: | 8.5% annualized, payable semiannually if each fund closes at or above 60% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either fund closes below 60% trigger, in which case 1% loss for each 1% decline of worse performing fund
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| Call option: | At par on any interest payment date other than final date
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| Initial levels: | $99.08 for biotech fund, $42.59 for oil fund
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| Trigger levels: | $59.448 for biotech fund, $25.554 for oil fund, 60% of initial levels
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| Pricing date: | June 22
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| Settlement date: | June 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48129MVU7
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