By Angela McDaniels
Tacoma, Wash., Oct. 25 – JPMorgan Chase Financial Co. LLC priced $4.89 million of 0% dual directional contingent buffered notes due April 26, 2018 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.
If the final level of each index is greater than its initial level, the payout at maturity will be par plus the return of the lesser-performing index.
If the final level of one index is greater than its initial level and the final level of the other index is equal to or is less than its initial level by up to 20% or the final level of each index is equal to its initial level or is less than its initial level by up to 20%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of either index is less than its initial level by more than 20%, investors will lose 1% for every 1% that the lesser-performing index’s final level is below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional contingent buffered notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $4,889,000
|
| Maturity: | April 26, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above its initial level, par plus return of lesser-performing index; if one index finishes at or above initial level and other index declines by no more than 20% of if each index declines by up to 20%, par plus absolute value of lesser-performing index’s return; if either index falls by more than 20%, full exposure to decline of lesser-performing index
|
| Initial index levels: | 2,141.16 for S&P 500 and 1,218.096 for Russell 2000
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.4%
|
| Cusip: | 46646EY97
|
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