By Marisa Wong
Morgantown, W.Va., Nov. 1 – JPMorgan Chase Financial Co. LLC priced $3.99 million of 7.25% autocallable yield notes due Jan. 31, 2018 linked to the worse 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.
Interest is payable monthly.
Beginning April 25, 2017, the notes will be called at par 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 closes below its trigger level, 70% of its initial level, on any day during the life of the notes and the return of the lesser performing index is negative, in which case investors will lose 1% for every 1% decline of the lesser performing index 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 yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $3,992,000
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Maturity: | Jan. 31, 2018
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Coupon: | 7.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index closes below trigger level during life of notes and return of lesser performing index is negative, in which case 1% loss for every 1% decline of worse performing index
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Call: | At par if each index closes at or above initial level on any quarterly review date other than the final one, beginning April 25, 2017
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Initial levels: | 2,139.43 for S&P 500 and 1,204.749 for Russell 2000
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Trigger levels: | 1,497.601 for S&P 500 and 843.3243 for Russell 2000; 70% of initial levels
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.25%
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Cusip: | 46646EL26
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