By Wendy Van Sickle
Columbus, Ohio, March 24 – JPMorgan Chase Financial Co. LLC priced $10.23 million of autocallable contingent interest notes due Sept. 26, 2018 linked to the lesser performing of the iShares MSCI EAFE ETF 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 monthly coupon at an annual rate of 5.9%.
Beginning on Sept. 21, 2017, the notes will be called at par plus the coupon if each asset closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the final coupon unless either asset finishes below its 80% buffer level, in which case investors will lose 1.25% for each 1% decline of the lesser performing asset beyond the buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
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| Underlying assets: | iShares MSCI EAFE ETF and Russell 2000 index
|
| Amount: | $10,255,000
|
| Maturity: | Sept. 26, 2018
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| Coupon: | 5.9% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless either asset finishes below its 80% buffer level, in which case 1.25% loss for each 1% decline of lesser performing asset beyond 20%
|
| Call: | At par plus coupon, beginning on Sept. 21, 2017, if each asset closes at or above initial level on any quarterly review date other than the final date
|
| Initial levels: | $61.82 for ETF and 1,346.546 for Russell
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.15%
|
| Cusip: | 46646QNU5
|
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