By Wendy Van Sickle
Columbus, Ohio, May 12 – JPMorgan Chase Financial Co. LLC priced $1.57 million of autocallable contingent interest notes due Nov. 15, 2017 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 contingent quarterly coupon at an annual rate of 7% if each index closes at or above its barrier 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 review other than the final date.
The payout at maturity will be par unless either index finishes below its initial level and either index has closed below its barrier level any day during the life of the notes, in which case investors will be fully exposed to the loss of the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Indexes: | S&P 500 and Russell 2000
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| Amount: | $1,567,000
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| Maturity: | Nov. 15, 2017
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 10% if each index closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial level and has closed below barrier any day during life of notes, in which case full exposure to decline of worse performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any review date other than final one
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| Initial levels: | 2,084.39 for S&P 500 and 1,128.833 for Russell 2000
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| Barrier values: | 1,459.073 for S&P 500 and 790.1831 for Russell 2000; 70% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 13
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.375%
|
| Cusip: | 46646ECH3
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