By Wendy Van Sickle
Columbus, Ohio, July 29 – JPMorgan Chase Financial Co. LLC priced $4.5 million of buffered callable range accrual notes due Jan. 29, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The interest rate will be 6.5% per year multiplied by the proportion of days on which the index's closing level is greater than or equal to 80% of the initial index level. Interest will be payable monthly.
If the index return is greater than or equal to negative 20%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
Beginning July 29, 2017, the notes will be callable at par on any interest payment date.
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: | Buffered callable range accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $4.5 million
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| Maturity: | Jan. 29, 2024
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| Coupon: | 6.5% annualized for each day index is at or above 80% barrier; payable monthly
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| Price: | Par of $1,000
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| Payout at maturity: | Par if index finishes at or above buffer level; otherwise, full exposure to losses
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| Call option: | At par on any interest payment date beginning July 29, 2017
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| Initial level: | 1,216.859
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| Buffer level: | 973.4872, 80% of initial level
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| Pricing date: | July 26
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| Settlement date: | July 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.83%
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| Cusip: | 46646END0
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