By Wendy Van Sickle
Columbus, Ohio, April 3 – JPMorgan Chase Financial Co. LLC priced $3.77 million of autocallable contingent interest notes due June 29, 2018 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed 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 5.5% if each index closes at or above its trigger level, 70% of its initial level, on the review date that quarter.
The notes will be called at par if each index closes above its initial level on any interest payment date other than the first and final ones.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either closes below its 70% trigger level any day during the life of the notes, in which case investors will lose 1% for every 1% decline of the worst 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 contingent interest notes
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| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $3,766,000
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| Maturity: | June 29, 2018
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 5.5% if each index closes at or above trigger level on the review date that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 70% of its initial value any day during life of notes and either index finishes below initial level, in which case 1% loss for every 1% decline of worst-performing
|
| Call: | At par if each index closes above its initial level on any interest payment date other than first and final ones
|
| Initial levels: | 2,358.57 for S&P 500, 1,367.261 for Russell 2000
|
| Trigger levels: | 1,650.999 for S&P 500, 957.0827 for Russell 2000; 70% of initial levels
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| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 46646QP41
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