JPMorgan Chase Financial Company LLC Announces Pricing of Cash-Settled Equity Linked Notes Linked to the Common Stock of Voya...
January 30 2018 - 9:00PM
Business Wire
JPMorgan Chase Financial Company LLC (the “Issuer”) today
announces the pricing of its public offering of $350 million of
cash-settled equity linked notes linked to the common stock of Voya
Financial, Inc. (“Voya”) due May 1, 2023 (the
“Notes”). JPMorgan Chase & Co. will fully and
unconditionally guarantee the Issuer’s obligations under the
Notes.
The Notes will bear interest at a rate of 0.25% per year,
payable semiannually in arrears on May 1 and November 1 of each
year, beginning November 1, 2018 and will mature on May 1, 2023
unless earlier converted (for cash) at the option of the holder.
The Notes will be cash-settled only at maturity or upon early
conversion. The amount of cash payable at maturity or upon early
conversion will be based on the volume-weighted average price of
the common stock of Voya.
The threshold price (the “Threshold Price”) of the Notes
will be set at a 32.5% premium to the initial reference price (the
“Initial Reference Price”) of the Notes, which will equal
the arithmetic average of the volume-weighted average prices of one
share of Voya common stock over the five consecutive trading days
beginning on, and including, January 31, 2018. The Threshold Price
and Initial Reference Price are expected to be announced after the
end of the five trading day period.
The Notes will be issued in minimum denominations of $100,000
and integral multiples of $1,000 in excess thereof at an issue
price of 100% of the principal amount. Settlement and delivery of
the Notes is expected to take place on February 2, 2018.
J.P. Morgan Securities LLC acted as Sole book runner.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global
financial services firm with assets of $2.5 trillion and
operations worldwide. The Firm is a leader in investment banking,
financial services for consumers and small businesses, commercial
banking, financial transaction processing, and asset management. A
component of the Dow Jones Industrial Average, JPMorgan Chase &
Co. serves millions of customers in the United States and many of
the world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Investment suitability must be determined individually for each
investor, and the Notes may not be suitable for all investors. This
information is not intended to provide and should not be relied
upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own advisors as to these
matters.
JPMorgan Chase & Co. and JPMorgan Chase Financial Company
LLC have filed a registration statement (including a prospectus)
with the SEC for any offerings to which these materials relate.
Before you invest, you should read the prospectus in that
registration statement and the other documents relating to any
offerings to which these materials relate that JPMorgan Chase &
Co. and JPMorgan Chase Financial Company LLC have filed with the
SEC for more complete information about JPMorgan Chase & Co.,
JPMorgan Chase Financial Company LLC and any offering to which
these materials relate.
You may get these documents without cost by visiting EDGAR on
the SEC Web site at www.sec.gov. Alternatively, JPMorgan Chase
& Co., JPMorgan Chase Financial Company LLC or any agent or any
dealer participating in the any offerings to which these materials
relate will arrange to send you the prospectus and each prospectus
supplement as well as any product supplement, underlying supplement
and pricing supplement if you so request by calling toll-free
866-535-9248.
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version on businesswire.com: http://www.businesswire.com/news/home/20180130006520/en/
JPMorgan Chase Financial Company LLCJessica Francisco,
212-270-1719Jessica.francisco@jpmorgan.com
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