By Angela McDaniels
Tacoma, Wash., March 27 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% digital notes due Sept. 28, 2018 linked to the performance of the Mexican peso relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The currency return will be positive if the peso appreciates relative to the dollar.
If the currency return is positive or zero or is negative but the final spot rate is less than or equal to the trigger value, 115% of the initial spot rate, the payout at maturity will be par plus 18%.
If the currency return is negative and the final spot rate is greater than the trigger value, investors will lose 1% of par for every 1% of decline in the Mexican peso.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital notes
|
| Underlying currency: | Mexican peso measured relative to dollar
|
| Amount: | $1 million
|
| Maturity: | Sept. 28, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency return is positive or zero or is negative but final spot rate is less than or equal to trigger value, par plus 18%; if currency return is negative and final spot rate is greater than trigger value, 1% loss for every 1% of decline in Mexican peso
|
| Initial spot rate: | 18.99765 pesos per dollar
|
| Trigger value: | 21.8473 pesos per dollar, or 115% of initial spot rate
|
| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 46646QZ73
|
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