By Angela McDaniels
Tacoma, Wash., Feb. 21 – JPMorgan Chase Financial Co. LLC priced $3.85 million of contingent income autocallable securities due Feb. 21, 2019 linked to the worse 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 pay a contingent coupon at an annual rate of 8% if each index closes at or above its threshold level, 80% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date other than the final one.
The payout at maturity will be par unless the final level of either index is less than its threshold level, in which case investors will be fully exposed to the decline of the worse-performing index.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,847,000
|
| Maturity: | Feb. 21, 2019
|
| Coupon: | Each quarter, notes pay contingent coupon at annual rate of 8% if each index closes at or above threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above threshold level, par; if final level of either index is less than threshold level, full exposure to decline of worse-performing index
|
| Call: | Automatically at par if each index closes at or above its initial level on any quarterly determination date other than final one
|
| Initial index levels: | 1,404.207 for Russell 2000 and 2,349.25 for S&P 500
|
| Threshold levels | : | 1,123.3656 for Russell 2000 and 1,879.40 for S&P 500, or 80% of initial levels
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2%
|
| Cusip: | 46646QKH7
|
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