By Wendy Van Sickle
Columbus, Ohio, June 14 – JPMorgan Chase Financial Co. LLC priced $1.15 million of callable contingent interest notes due June 18, 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 5% if each index closes at or above its barrier level, 60% of its initial level, on the review date for that quarter.
The notes are callable at par plus the contingent coupon, if any, on any interest payment date other than the final dates.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its barrier 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1.15 million
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| Maturity: | June 18, 2018
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| Coupon: | 5%, payable quarterly if each index closes at or above barrier value on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to decline of lesser-performing index
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| Call option: | At par plus contingent coupon, if any, on any interest payment date other than final one
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| Initial levels: | 2,096.07 for S&P 500 and 1,163.931 for Russell 2000
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| Trigger values: | 1,257.642 for S&P 500 and 698.3586 for Russell 2000; 60% of initial levels
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| Pricing date: | June 10
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| Settlement date: | June 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 46646EGY2
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