By Susanna Moon
Chicago, May 21 – JPMorgan Chase Financial Co. LLC priced $505,000 of autocallable contingent interest notes due Nov. 14, 2019 linked to the lesser performing of the SPDR S&P Regional Banking 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 quarterly coupon at an annual rate of 5.7% if each underlying fund closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any review date other than the first and final dates.
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 worse 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: | Autocallable contingent interest notes
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| Underlying funds: | SPDR S&P Regional Banking ETF, SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $505,000
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| Maturity: | Nov. 14, 2019
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| Coupon: | 5.7% annualized, payable quarterly if each fund closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either fund finishes below 60% trigger, in which case 1% loss for each 1% decline of worse performing fund
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| Call: | At par plus contingent coupon if each fund closes at or above initial level on any quarterly review date other than first and final dates
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| Initial levels: | $63.59 for bank fund, $41.39 for oil fund
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| Coupon barriers: | $44.513 for bank fund, $28.973 for oil fund, 70% of initial levels
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| Trigger levels: | $38.154 for bank fund, $24.834 for oil fund, 60% of initial levels
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| Pricing date: | May 9
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| Settlement date: | May 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48129MSW7
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