By Marisa Wong
Morgantown, W.Va., Feb. 21 – JPMorgan Chase Financial Co. LLC priced $5.32 million of digital notes due March 16, 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 payout at maturity will be par plus a contingent digital return of 7.5% if each index closes at or above the 70% trigger level on each day during the life of the notes.
If either index ever closes below its 70% trigger level but both indexes finish at or above their initial levels, investors will receive par.
Otherwise, 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $5,319,000
|
| Maturity: | March 16, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 7.5% if each index closes at or above the 70% trigger level each day during the life of the notes; if either index ever closes below trigger level but both finish at or above initial level, par; otherwise, 1% loss for each 1% decline of worse performing index
|
| Initial levels: | 1,392.378 for Russell and 2,328.25 for S&P
|
| Trigger levels: | 974.6646 for Russell and 1,629.775 for S&P; 70% of initial levels
|
| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
|
| Cusip: | 46646QE68
|
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