By Susanna Moon
Chicago, Jan. 23 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due July 23, 2018 linked to the least 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 monthly coupon at an annual rate of 7% if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that month.
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.
The payout at maturity will be par unless either index finishes below its 70% trigger level, 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: | $1,254,000
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| Maturity: | July 23, 2018
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| Issue price: | Par
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| Coupon: | 7% annualized, payable monthly if each underlying index closes at or above 70% coupon barrier on review date for that month
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| Payout at maturity: | Par unless either index falls below 70% trigger, in which case full exposure to any losses 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 review date
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| Initial levels: | 2,271.89 for S&P, 1,358.556 for Russell
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| Trigger levels: | 1,590.323 for S&P, 950.9892 for Russell; 70% of initial levels
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646QUL7
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