By Angela McDaniels
Tacoma, Wash., Oct. 31 – JPMorgan Chase Financial Co. LLC priced $11.74 million of trigger autocallable contingent yield notes due Oct. 30, 2026 linked to the lesser performing of the MSCI EAFE index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning Oct. 27, 2017, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below its downside threshold, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantors: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | MSCI EAFE and Russell 2000
|
| Amount: | $11,738,410
|
| Maturity: | Oct. 30, 2026
|
| Coupon: | 8.25%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | Beginning Oct. 27, 2017, automatically at par if indexes close at or above initial levels on any quarterly observation date other than final one
|
| Initial index levels: | 1,667.18 for MSCI EAFE and 1,189.947 for Russell 2000
|
| Coupon barriers: | 1,167.03 for MSCI EAFE and 832.963 for Russell 2000; 70% of initial levels
|
| Downside thresholds: | 833.59 for MSCI EAFE and 594.947 for Russell 2000; 50% of initial levels
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 31
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48128P837
|
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