By Marisa Wong
Morgantown, W.Va., Aug. 18 – JPMorgan Chase Financial Co. LLC priced $11.92 million of 0% digital notes due Aug. 29, 2018 linked to the 10-year British pounds sterling ICE swap rate, according to a 424B2 with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
If the rate finishes at or above its 70% buffer level, the payout at maturity will be par plus 8.75%. Otherwise, investors will lose 1.42857% for each 1% decline beyond 30%.
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: | Digital notes
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| Underlying rate: | 10-year British pounds sterling ICE swap rate
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| Amount: | $11.92 million
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| Maturity: | Aug. 29, 2018
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If the rate finishes at or above 70% of initial level, par plus 8.75%; otherwise, 1.42857% loss for each 1% decline beyond 30%
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| Initial rate: | 1.175%
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46647MMQ3
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