By Wendy Van Sickle
Columbus, Ohio, June 21 – JPMorgan Chase Financial Co. LLC priced $1.16 million of autocallable contingent interest notes due June 20, 2019 linked to the lesser performing of the S&P 500 index and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.25% if each underlier closes at or above its barrier level, 60% of its initial level, on the review date for that quarter.
Beginning June 19, 2017, the notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly review date other than the final review date.
The payout at maturity will be par unless either underlier finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
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: | Autocallable contingent interest notes
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Underlying assets: | S&P 500 and Energy Select Sector SPDR fund
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Amount: | $1.16 million
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Maturity: | June 20, 2019
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Coupon: | 6.25% annualized, payable quarterly if each underlier closes at or above barrier level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either underlier falls below barrier level, in which case full exposure to loss of worse performing underlier
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Call: | Beginning July 19, 2017, at par plus contingent coupon if each underlier closes at or above initial level on any review date other than final date
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Initial levels: | 2,071.22 for S&P and $66.90 for fund
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Barrier levels: | 1,242.732 for S&P and $40.14 for fund; 60% of initial levels
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Pricing date: | June 17
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Settlement date: | June 22
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 46646EGG1
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