By Wendy Van Sickle
Columbus, Ohio, May 5 – JPMorgan Chase Financial Co. LLC priced $7.11 million of autocallable contingent interest notes due May 1, 2018 linked to the worse performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.55% if each index closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on Oct. 26, 2017 or Jan. 26, 2018.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $7,113,000
|
| Maturity: | May 1, 2018
|
| Coupon: | 8.55% per year, payable monthly if each index closes at or above 70% coupon barrier on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 70% trigger, in which case full exposure to any losses of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on Oct. 26, 2017 or Jan. 26, 2018
|
| Initial levels: | 1,419.431 for Russell and 3,578.71 for Stoxx
|
| Coupon barrier/triggers: | 993.6017 for Russell and 2,505.097 for Stoxx; 70% of initial levels
|
| Pricing date: | April 26
|
| Settlement date: | May 1
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 46646QQX6
|
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