By Marisa Wong
Morgantown, W.Va., Feb. 26 – JPMorgan Chase Financial Co. LLC priced $16.75 million of 0% capped enhanced participation currency-linked notes due March 26, 2019 linked to the U.S. dollar/Japanese yen exchange rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The currency return will be positive if the dollar strengthens relative to the yen.
If the currency return is positive, the payout at maturity will be par plus 2.6 times the currency return, up to a maximum settlement amount of $3,600 per $1,000 note.
If the currency return is zero or negative, the payout will be par plus the currency return, subject to minimum payment of zero. If the final exchange rate is less than or equal to 50% of the strike rate, investors will lose their entire investment.
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 enhanced participation equity notes
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| Underlying exchange rate: U.S. dollar/Japanese yen
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| Amount: | $16.75 million
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| Maturity: | March 26, 2019
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If the currency return is positive (dollar strengthens relative to the yen), par plus 2.6 times the currency return, up to a maximum settlement amount of $3,600 per $1,000 note; if the currency return is zero or negative, par plus the currency return, subject to minimum payment of zero
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| Initial exchange rate: | 107.520
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.13%
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| Cusip: | 46647MQR7
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