By Susanna Moon
Chicago, Nov. 21 – JPMorgan Chase Financial Co. LLC priced $1.38 million of autocallable contingent interest notes due Feb. 23, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 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 7% if each index closes at or above the coupon barrier, 70% of the 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 the initial level on any review date other than the final date.
The payout at maturity will be par unless either index finishes below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses 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, Russell 2000
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Amount: | $1.38 million
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Maturity: | Feb. 23, 2018
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Coupon: | 7% annualized, payable quarterly if each index closes at or above 70% coupon barrier level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless either index falls and either index ever closes below its 70% trigger level, in which case 1% loss for each 1% decline of worse performing index
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Call: | At par plus contingent coupon if both indexes close at or above initial share price on any review date other than final date
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Initial levels: | 2,187.12 for S&P, 1,309.484 for Russell
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Trigger levels: | 1,530.984 for S&P, 916.6388 for Russell; 70% of initial levels
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Pricing date: | Nov. 17
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Settlement date: | Nov. 22
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.125%
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Cusip: | 46646E7J5
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