By Marisa Wong
Morgantown, W.Va., Nov. 7 – JPMorgan Chase Financial Co. LLC priced $2 million of 13.5% yield notes due Dec. 5, 2018 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable semiannually.
The payout at maturity will be par unless the final spread is less than 50% of the initial spread, in which case investors will lose 2% for every 1% the final spread is below 50% of the initial spread.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Yield notes
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| Underlying spread: | 30-year U.S. dollar ICE swap rate minus two-year U.S. dollar ICE swap rate
|
| Amount: | $2 million
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| Maturity: | Dec. 5, 2018
|
| Coupon: | 13.5%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par unless the final spread is less than threshold spread, in which case investors will lose 2% for every 1% the final spread is below threshold spread
|
| Initial spread: | 0.793%
|
| Threshold spread: | 0.3965%; 50% of initial spread
|
| Strike date: | Oct. 30
|
| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.65%
|
| Cusip: | 46647MPJ6
|
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