By Devika Patel
Knoxville, Tenn., Oct. 3 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Oct. 4, 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% if each index closes at or above its coupon barrier level, 70% 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 quarterly review date other than the final one.
The payout at maturity will be par unless either index finishes below its initial level and closes below its 70% trigger level during the lifetime of the notes, in which case investors will lose 1% for each 1% decline 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 contingent interest notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $500,000
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| Maturity: | Oct. 4, 2017
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| Coupon: | 8% annualized, payable quarterly if each underlying index closes at or above coupon barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either index finishes below its initial level and closes below its trigger level during the lifetime of the notes, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the final date
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| Initial levels: | 2,151.13 for S&P and 1,237.751 for Russell
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| Coupon/trigger levels: | 1,505.791 for S&P and 866.4257 for Russell; 70% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 46646EJ60
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