By Marisa Wong
Morgantown, W.Va., March 27 – JPMorgan Chase Financial Co. LLC priced $1.5 million of 0% digital notes due April 9, 2019 linked to the performance of the Brazilian real relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The currency return is (a) the initial spot rate minus the final spot rate divided by (b) the initial spot rate. The currency return will be positive if the real appreciates relative to the dollar.
The payout at maturity will be par plus the contingent digital return of 7% unless the currency return is negative and the ending spot rate is greater than the trigger value, 121.75% of the starting spot rate, in which case investors will have full exposure to losses.
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 currency: | Brazilian real relative to the U.S. dollar
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| Amount: | $1.5 million
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| Maturity: | April 9, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus contingent digital return of 7% unless currency return is negative and ending spot rate is greater than trigger value, in which case investors will have full exposure to losses
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| Currency return: | (a) initial spot rate minus final spot rate divided by (b) initial spot rate
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| Initial spot rate: | 3.2921
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| Trigger value: | 4.00813, 121.75% of initial spot rate
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| Pricing date: | March 21
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| Settlement date: | March 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46647MRC9
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