By Marisa Wong
Morgantown, W.Va., Feb. 21 – JPMorgan Chase Financial Co. LLC priced $4.67 million of 7% autocallable yield notes due Feb. 16, 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.
Interest is payable monthly.
After six months, the notes will be called at par 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 either index closes below its 70% trigger level on any day 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $4,669,000
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| Maturity: | Feb. 16, 2018
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| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its initial level and either index closes below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index
|
| Call: | After six months, automatically at par if each index closes at or above its initial level on any quarterly review date other than the final date
|
| 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: | 46646QYW9
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