By Wendy Van Sickle
Columbus, Ohio, Nov. 9 – JPMorgan Chase Financial Co. LLC priced $5.25 million of contingent coupon callable yield notes due Nov. 14, 2017 linked to the Financial Select Sector SPDR fund and the Technology 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 the rate of 6.75% per year if each fund closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either fund finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performer.
The notes are callable in whole but not in part at par on any interest payment date other than the first and final dates.
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: | Contingent coupon callable yield notes
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| Underlying funds: | Financial Select Sector SPDR and Technology Select Sector SPDR
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| Amount: | $5.25 million
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| Maturity: | Nov. 14, 2017
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| Coupon: | 6.75%, payable quarterly if each fund closes at or above barrier level on observation date for quarter
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| Price: | Par
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| Payout at maturity: | If any underlying finishes below trigger level, par plus return of worse performer; otherwise, par
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| Call option: | In whole but not in part at par plus coupon on any interest payment date other than final date
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| Initial levels: | $13.986 for Financial Select and $33.026 for Technology Select
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| Trigger/barrier levels: | $19.98 for Financial Select and $47.18 for Technology Select; 70% of initial levels
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| Pricing date: | Nov. 7
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| Settlement date: | Nov. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 46646E6G2
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