By Wendy Van Sickle
Columbus, Ohio, May 20 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% contingent buffered notes due June 3, 2020 linked to the Brazilian real relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the currency return is at least zero or is negative but the ending spot rate is less than or equal to the trigger value – 120% of initial spot rate – the payout at maturity will be par plus the return, subject to the contingent minimum return of 6.01%.
Otherwise, investors will be fully exposed to any 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: | Contingent buffered notes
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| Underlying asset: | Brazilian real against dollar
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| Amount: | $1 million
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| Maturity: | June 3, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If asset gains or return is less than 120% trigger, par plus 6.01%; otherwise, 1% loss per 1% decline
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| Initial level: | 4.0031
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| Trigger level: | 4.73238, 120% of initial spot rate
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48130UQZ1
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