By Wendy Van Sickle
Columbus, Ohio, May 17 – JPMorgan Chase Financial Co. LLC priced $1.72 million of contingent income autocallable securities due May 16, 2019 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 8% if each index closes at or above its barrier, 80% of its initial level, on the review date for that quarter.
The notes will be automatically 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 review date.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its barrier, in which case investors will be fully exposed to the loss 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: | Contingent income autocallables
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| Indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,718,080
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| Maturity: | May 16, 2019
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 8% if each index closes at or above barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below barrier, 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 quarterly review date other the final one
|
| Initial levels: | 2,046.61 for S&P 500 and 1,102.439 for Russell 2000
|
| Barrier values: | 1,637.288 for S&P 500 and 881.9512 for Russell 2000; 80% of initial levels
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| Pricing date: | May 13
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| Settlement date: | May 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 46646W706
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