By Susanna Moon
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $1.03 million callable contingent interest notes due Sept. 29, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 8.75% if each index closes at or above its coupon barrier, 75% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either index finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the lesser 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: | Callable contingent interest notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1.03 million
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| Maturity: | Sept. 29, 2017
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| Coupon: | 8.75% annualized, payable quarterly if each index closes at or above 75% barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to any losses of the lesser performing index
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| Call option: | At par plus contingent coupon on any review date other than final date
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| Initial levels: | 2,127.81 for S&P and 1,219.21 for Russell
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| Trigger levels: | 1,595.8575 for S&P and 914.4075 for Russell; 75% of initial levels
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646EZH8
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