By Devika Patel
Knoxville, Tenn., May 17 – JPMorgan Chase Financial Co. LLC priced $3.64 million of autocallable contingent interest notes due Aug. 16, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, 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 7% if each index closes at or above its trigger level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date beginning on Aug. 14, 2017.
The payout at maturity will be par unless either index finishes below its initial level and closes below the 70% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline 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 indexes: | Russell 2000 and S&P 500
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| Amount: | $3,641,000
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| Maturity: | Aug. 16, 2018
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| Coupon: | 7% annualized, payable quarterly if each underlying index closes at or above coupon barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either index finishes below initial level and closes below trigger level during the life of the notes, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date beginning on Aug. 14, 2017
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| Initial levels: | 1,382.77 for Russell and 2,390.9 for S&P
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| Trigger levels: | 967.939 for Russell and 1,673.63 for S&P; 70% of initial levels
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| Pricing date: | May 12
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| Settlement date: | May 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.41235
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| Cusip: | 46647MAE3
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