By Wendy Van Sickle
Columbus, Ohio, May 18 – JPMorgan Chase Financial Co. LLC priced $145,000 of autocallable contingent interest notes due May 22, 2017 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable quarterly at 6.5% per year if the reference rate closes at or above its 70% barrier on the observation date for that quarter.
The notes will be called at par plus the contingent payment if the reference rate closes at or above its initial level on any observation date other than the final one.
The payout at maturity will be par unless the reference rate falls below the barrier, in which case investors will be fully exposed to the rate’s decline from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying rate: | 10-year U.S. dollar ICE swap rate
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| Amount: | $145,000
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| Maturity: | May 22, 2017
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| Coupon: | 6.5%, payable quarterly if reference rate closes at or above barrier on review date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par, unless reference rate falls below barrier, in which case full exposure to decline
|
| Call: | Automatically at par plus contingent coupon if reference rate closes at or above initial price on any quarterly review date other than the final one
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| Initial reference rate: | 1.611%
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| Barrier level: | 1.1277%, 70% of initial rate
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| Pricing date: | May 16
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| Settlement date: | May 19
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| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 2.125%
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| Cusip: | 46646EBQ4
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