By Tali Rackner
Norfolk, Va., Oct. 7 – JPMorgan Chase Financial Co. LLC priced $577,000 of autocallable contingent interest notes due Oct. 10, 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 8.25% if each index closes at or above its interest barrier, 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 review date other than the final date.
If the notes have not been called, the payout at maturity will be par unless either index closes below its 70% trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
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: | $577,000
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| Maturity: | Oct. 10, 2017
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| Coupon: | 8.25% annualized, payable quarterly if each index closes at or above 70% interest barrier on review date for that quarter
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| Price: | Par
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final date
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| Payout at maturity: | Par unless either index closes below trigger value during life of notes and either index finishes below initial level, in which case 1% loss for every 1% that lesser-performing index finishes below initial level
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| Initial levels: | 2,150.49 for S&P and 1,239.778 for Russell
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| Interest barrier/trigger levels: | 1,505.343 for S&P and 867.8446 for Russell; 70% of initial levels
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| Pricing date: | Oct. 4
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| Settlement date: | Oct. 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 46646ES52
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