By Angela McDaniels
Tacoma, Wash., July 22 – JPMorgan Chase Financial Co. LLC priced $2.06 million of contingent coupon autocallable yield notes due Oct. 25, 2017 linked to the iShares MSCI EAFE exchange-traded fund, 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.
Each month, the notes pay a contingent coupon at the rate of 6% per year if each underlying component closes at or above its trigger value, 63% of its initial level, on the observation date for that month.
The notes will be called at par if each underlying component closes at or above its initial level on any quarterly observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless any underlying component closes below its trigger value during the life of the notes and any underlying component finishes below its initial level, in which case investors will have one-to-one exposure to the decline of the least-performing underlying component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon autocallable yield notes
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| Underliers: | iShares MSCI EAFE, Russell 2000 and S&P 500
|
| Amount: | $2.06 million
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| Maturity: | Oct. 25, 2017
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| Coupon: | 6% per year, payable monthly if each underlying component closes at or above trigger value on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying component closes below trigger value during life of notes and any underlying component finishes below initial level, in which case one-to-one exposure to decline of least-performing underlying component
|
| Call: | Automatically at par if each underlying component closes at or above initial level on any quarterly observation date other than final one
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| Initial levels: | 2,173.02 for S&P 500, 1,209.745 for Russell 2000 and $57.16 for ETF
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| Trigger values: | 1,369.0026 for S&P 500, 762.13935 for Russell 2000 and $36.0108 for ETF; 63% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.475%
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| Cusip: | 46646ENT5
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