By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – JPMorgan Chase Financial Co. LLC priced $1.5 million of 0% capped optimal entry return enhanced notes due Feb. 14, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The lookback level will be the lowest closing level of the index during the lookback observation period, from the pricing date and through Feb. 9. In no event will the lookback level be greater than the closing level of the index at pricing.
The payout at maturity will be par plus 1.5 times any index appreciation from the lookback level, up to a maximum return of 10.845%.
Investors will be fully exposed to any decline beyond the lookback level.
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: | Capped optimal entry return enhanced notes
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| Underlying index: | S&P 500
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| Amount: | $1.5 million
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| Maturity: | Feb. 14, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above lookback level, par plus 150% of gain, capped at 10.845%; otherwise, 1% loss for each 1% decline beyond lookback level
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| Pricing level: | 2,294.69
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| Lookback level: | Lowest closing level of index from pricing date through Feb. 9, capped at pricing level
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646QWC5
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