By Susanna Moon
Chicago, June 17 – JPMorgan Chase Financial Co. LLC priced $1.3 million of callable contingent interest notes due July 6, 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 11% if each index closes at or above its trigger level, 75% 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 final date.
The payout at maturity will be par unless either index finishes below its trigger level, in which case investors will be fully exposed to any losses of the worse 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: | $1.3 million
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| Maturity: | July 6, 2017
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| Coupon: | 11% annualized, payable quarterly if each index closes at or above trigger 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 trigger level, in which case full exposure to any losses of worse performing index
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| Call option: | At par plus contingent coupon on any interest payment date other than final date
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| Initial levels: | 2,075.32 for S&P and 1,147.823 for Russell
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| Trigger levels: | 1,556.49 for S&P and 860.86725 for Russell; 75% of initial levels
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| Pricing date: | June 14
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| Settlement date: | June 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646EHP0
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