By Angela McDaniels
Tacoma, Wash., June 21 – JPMorgan Chase Financial Co. LLC priced $11.91 million of callable contingent interest notes due June 24, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Every six months, the notes pay a contingent coupon at an annual rate of 8% if each index closes at or above its trigger value, 70% 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 interest payment 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: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $11,912,000
|
| Maturity: | June 24, 2019
|
| Contingent coupon: | 8% per year, payable semiannually if each index closes at or above trigger value on review date for that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below trigger value, in which case full exposure to decline of lesser-performing index
|
| Call: | Callable at par plus contingent coupon on any interest payment date other than final one
|
| Initial levels: | 1,144.698 for Russell 2000 and 2,071.22 for S&P 500
|
| Trigger values: | 801.2886 for Russell 2000 and 1,449.854 for S&P 500; 70% of initial levels
|
| Pricing date: | June 17
|
| Settlement date: | June 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.1%
|
| Cusip: | 46646EEB4
|
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