By Marisa Wong
Morgantown, W.Va., June 2 – JPMorgan Chase Financial Co. LLC priced $5.63 million of autocallable contingent interest notes due May 31. 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7% if each index closes at or above its trigger value, 67.5% 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 trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $5,628,000
|
| Maturity: | May 31. 2017
|
| Coupon: | Notes pay quarterly contingent coupon at annual rate of 7% if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger value, in which case full exposure to decline of lesser-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
|
| Initial levels: | 2,090.54 for S&P 500 and 1,141.024 for Russell 2000
|
| Trigger values: | 1,411.1145 for S&P 500 and 770.1912 for Russell 2000; 67.5% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.36875%
|
| Cusip: | 46646EAR3
|
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