New Issue: JPMorgan prices $2.45 million callable contingent interest notes on indexes, ETF

By Marisa Wong

Morgantown, W.Va., Nov. 11 – JPMorgan Chase & Co. priced $2.45 million of callable contingent interest notes due May 9, 2019 linked to the least performing of the iShares MSCI EAFE exchange-traded fund, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at an annual rate of 10% if each underlying component closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.

The notes are callable at par plus the contingent coupon on any interest payment date other than the first and final interest payment dates.

If the notes have not been called, the payout at maturity will be par unless any underlying component finishes below its trigger level, 60% of its initial level, in which case investors will be fully exposed to the decline of the least-performing underlying component.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable contingent interest notes
Underlying components:	iShares MSCI EAFE ETF, Russell 2000 index and S&P 500 index
Amount:	$2.45 million
Maturity:	May 9, 2019
Coupon:	Quarterly contingent coupon at annual rate of 10% if each underlying component closes at or above interest barrier level on review date for that quarter
Price:	Par
Payout at maturity:	Par plus final coupon unless final level of any underlying component is less than trigger level, in which case full exposure to decline of least-performing underlying component
Call:	Callable at par plus contingent coupon on any interest payment date other than first and final interest payment dates
Initial levels:	2,104.05 for S&P 500, 1,186.091 for Russell 2000 and $61.69 for ETF
Interest barriers:	1,472.835 for S&P 500, 830.2637 for Russell 2000 and $43.183 for ETF; 70% of initial levels
Trigger levels:	1,262.43 for S&P 500, 711.6546 for Russell 2000 and $37.014 for ETF; 60% of initial levels
Pricing date:	Nov. 2
Settlement date:	Nov. 5
Agent:	J.P. Morgan Securities LLC
Fees:	2%
Cusip:	48128GBL3

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