By Wendy Van Sickle
Columbus, Ohio, Nov. 27 – JPMorgan Chase Financial Co. LLC priced $10.15 million of contingent coupon autocallable yield notes due Nov. 25, 2019 linked to the lesser performing of the SPDR S&P Bank exchange-traded fund, the VanEck Vectors Semiconductor exchange-traded fund and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing 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 15% if each fund closes at or above its coupon barrier, 70.25% of its initial level, on the observation date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any fund finishes below its 70.25% trigger level, in which case investors will be fully exposed to any losses of the least performing fund.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying funds: | SPDR S&P Biotech ETF, VanEck Vectors Semiconductor ETF, SPDR S&P Bank exchange-traded fund
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| Amount: | $10,154,000
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| Maturity: | Nov. 25, 2019
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| Coupon: | 15% per year, payable quarterly if each fund closes at or above its barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any fund finishes below trigger level, in which full exposure to the losses of the least-performing fund
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| Call: | Automatically if each fund closes at or above its initial level on any quarterly trigger observation date
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| Initial prices: | $104.50 for Semiconductor, $80.87 for Biotech, $45.29 for Bank
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| Barrier/trigger prices: | $73.41125 for Semiconductor, $56.81118 for Biotech, $31.81623 for Bank; 70.25% of initial levels
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48129HPF8
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