By Marisa Wong
Morgantown, W.Va., Feb. 7 – JPMorgan Chase Financial Co. LLC priced $1.03 million of callable contingent interest notes due Feb. 20, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each index closes at or above its trigger value, 80% of its initial level, on the review date for that quarter.
The notes are callable at par on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1,025,000
|
| Maturity: | Feb. 20, 2018
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| Contingent coupon: | 9% per year, payable quarterly if each index closes at or above trigger value on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par on any interest payment date other than final date
|
| Initial index levels: | 2,280.90 for S&P and 1,352.333 for Russell
|
| Trigger values: | 1,824.72 for S&P and 1,081.8664 for Russell; 80% of initial levels
|
| Pricing date: | Jan. 30
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| Settlement date: | Feb. 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 46646QXX8
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