By Susanna Moon
Chicago, Dec. 23 – JPMorgan Chase Financial Co. LLC priced $12.11 million of autocallable contingent interest notes due March 23, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6% 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 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 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: | $12,105,000
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| Maturity: | March 23, 2018
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| Coupon: | 6% annualized, payable quarterly if each underlying index closes at or above 70% coupon barrier on review date for that quarter
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| Payout at maturity: | Par plus final coupon unless either index finishes below initial level and either index ever dips below 70% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | 2,270.76 for S&P and 1,383.956 for Russell
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| Trigger levels: | 1,589.532 for S&P and 968.7692 for Russell; 70% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.04526%
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| Cusip: | 46646QBW4
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