By Marisa Wong
Morgantown, W.Va., July 29 – JPMorgan Chase Financial Co. LLC priced $9.06 million of 8.5% autocallable yield notes due July 31, 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.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless either index closes below its trigger level, 70% of its initial level, during the life of the notes and either index finishes below its initial level, in which case investors will be fully exposed any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $9,059,000
|
| Maturity: | July 31, 2017
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| Coupon: | 8.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index ever closes below 70% trigger level and return of worse performing index is negative, in which case full exposure to any losses of worse performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly review date other than the final date
|
| Initial levels: | 2,169.18 for S&P 500 and 1,216.859 for Russell
|
| Trigger levels: | 1,518.426 for S&P 500 and 851.8013 for Russell; 70% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4631%
|
| Cusip: | 46646ELY6
|
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