By Susanna Moon
Chicago, March 24 – JPMorgan Chase Financial Co. LLC priced $3.15 million of 0% review notes due March 22, 2021 linked to the lesser performing of the Alerian MLP exchange-traded fund and the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual call premium of 15% if each fund closes at or above its initial level on any of four annual review dates.
The payout will be par plus the contingent minimum return of 12% if each fund finishes at or above its trigger level, which will be 60% of its initial level.
Otherwise, investors will be fully exposed to any losses of the worse performing fund.
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: | Review notes
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| Underlying funds: | Alerian MLP ETF, VanEck Vectors Oil Services ETF
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| Amount: | $3.15 million
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| Maturity: | March 22, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 12% unless either fund finishes below 60% trigger level, in which case 1% loss per 1% decline of worse performing fund
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| Call: | At par plus a call premium of 15% per year if each fund closes at or above its initial level on March 23, 2018, March 18, 2019, March 17, 2020 or March 17, 2021
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| Initial levels: | $12.60 for Alerian fund and $30.58 for VanEck fund
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| Trigger levels: | $7.56 for Alerian fund and $18.348 for VanEck fund; 60% of initial levels
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| Pricing date: | March 17
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| Settlement date: | March 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 46646QV93
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