By Wendy Van Sickle
Columbus, Ohio, April 6 – JPMorgan Chase Financial Co. LLC priced $5.01 million of autocallable contingent interest notes due June 29, 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 are guaranteed by JPMorgan Chase & Co.
The notes will pay a monthly coupon at an annual rate of 6.75%.
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 other than the final date.
The payout at maturity will be par plus the final coupon unless either index finishes below its initial level and either index closes below its 70% trigger value on any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the lesser performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $5,011,000
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| Maturity: | June 29, 2018
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| Coupon: | 6.75% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless either index finishes below initial level and either index closes below trigger level on any day during the life of the notes, in which case 1% loss for each 1% decline of lesser performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the final date
|
| Initial index levels: | 2,358.57 for S&P 500 and 1,367.261 for Russell 2000
|
| Trigger levels: | 1,650.999 for S&P 500 and 957.0827 for Russell 2000, or 70% of initial levels
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| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 46646QP25
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