By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – JPMorgan Chase Financial Co. LLC priced $595,000 of autocallable notes due July 31, 2019 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 will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual call premium of 11.2% if each index closes at or above its call level on any of three annual review dates.
The call level will be 100% of the initial level on Aug. 2, 2017, stepping down to 95% of the initial level on July 26, 2018 and to 90% of the initial level on July 26, 2019.
The payout at maturity will be par unless either index closes below its 75% trigger 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $595,000
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| Maturity: | July 31, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its trigger, in which case exposure to decline of lesser-performing index from initial level
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| Call option: | At par plus 11.2% a year if both indexes close above call level on an annual review date
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| Call level: | 100% of initial level on Aug. 2, 2017; 95% of initial level on July 26, 2018; 90% of initial level on July 26, 2019
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| Initial index levels: | 2,169.18 for S&P 500 and 1,216.859 for Russell 2000
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| Trigger levels: | 1,626.885 for S&P 500 and 912.64425 for Russell 2000; 75% of initial levels
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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: | 2.25%
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| Cusip: | 46646ENQ1
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