By Wendy Van Sickle
Columbus, Ohio, June 23 – JPMorgan Chase Financial Co. LLC priced $16.11 million of contingent coupon autocallable yield notes due June 25, 2019 linked to the iShares U.S. Real Estate ETF, the VanEck Vectors Semiconductor ETF and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 11.85% if each ETF closes above its 75% barrier on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless any ETF finishes below its barrier, in which case investors will be fully exposed to the decline of the least-performing ETF.
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: | Contingent coupon autocallable yield notes
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| Underlying funds: | iShares U.S. Real Estate ETF, VanEck Vectors Semiconductor ETF and SPDR S&P Bank ETF
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| Amount: | $16.11 million
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| Maturity: | June 25, 2019
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| Coupon: | 11.85% per year, payable quarterly if each ETF closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any ETF finishes below its 75% barrier level, in which case 1% loss for each 1% decline of the worst-performing ETF
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| Call option: | At par if each index closes at or above its initial level on any quarterly observation date
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| Initial levels: | $81.06 for Real Estate, $84.57 for Semiconductor, $43.03 for Bank
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| Barrier levels: | $60.795 for Real Estate, $63.4275 for Semiconductor, $32.2725 for Bank, 75% of initial levels
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| Pricing date: | June 20
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| Settlement date: | June 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 46647MHY2
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