New York, July 18 – JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due July 17, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.15% if each underlying asset closes at or above its interest barrier level, 60% of its initial level, on the review date for that quarter.
The notes may be called at par plus the coupon in whole but not in part on any interest payment date beginning on Jan. 19, 2018.
If the notes have not been called, the payout at maturity will be par plus the coupon, if any, unless any asset finishes below its trigger level, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the least-performing asset from its initial level.
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 assets: | S&P 500, Russell 2000, SPDR S&P Biotech exchange-traded fund
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| Amount: | $1 million
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| Maturity: | July 17, 2020
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 9.15% if each asset closes at or above interest barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any asset finishes below 60% of its initial value, in which case 1% loss for every 1% decline of least-performing asset from initial level
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| Call: | Callable at par plus coupon on any interest payment date beginning on Jan. 19, 2018
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| Initial levels: | 2,459.27 for S&P 500, 1,428.817 for Russell 2000, $79.07 for SPDR Biotech
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| Interest barrier/trigger levels: | 1,475.562 for S&P 500, 857.2902 for Russell 2000, $47.442 for SPDR Biotech; 60% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.55%
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| Cusip: | 46647MXE8
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