By Devika Patel
Knoxville, Tenn., Nov. 28 – JPMorgan Chase Financial Co. LLC priced $2.96 million of autocallable yield notes due Feb. 27, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The interest rate is 7.25% per year, and interest is payable monthly.
Beginning May 22, 2017, the notes will be called at par if each index closes at or above its initial level on any quarterly call observation date other than the final one.
The payout at maturity will be par unless either index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and the return of the lesser-performing index is negative, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,963,000
|
| Maturity: | Feb. 27, 2018
|
| Coupon: | 7.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger level during life of notes and return of lesser-performing index is negative, in which case 1% loss for every 1% decline of lesser-performing index
|
| Call: | Beginning May 22, 2017, at par if each index closes at or above the initial level on any quarterly observation date other than the final one
|
| Initial levels: | 2,202.94 for S&P 500 and 1,334.341 for Russell 2000
|
| Trigger levels: | 1,542.058 for S&P 500 and 934.0387 for Russell, 70% of initial levels
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 46646E4L3
|
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