By Susanna Moon
Chicago, May 17 – JPMorgan Chase Financial Co. LLC priced $1.05 million of autocallable contingent interest notes due Aug. 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 will pay a contingent monthly coupon at an annual rate of 7% if each index closes at or above its trigger level, 70% of its initial level, on the review 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 any review date other than the final date.
The payout at maturity will be par unless either index finishes below its initial level and ever closes below the 70% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1,054,000
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| Maturity: | Aug. 16, 2018
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| Coupon: | 7% annualized, payable monthly if each underlying index closes at or above coupon barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either index falls and ever closes below trigger level during the life of the notes, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than the final date
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| Initial levels: | 1,390.196 for Russell and 2,394.44 for S&P
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| Trigger levels: | 973.1372 for Russell and 1,676.108 for S&P; 70% of initial levels
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| Pricing date: | May 11
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| Settlement date: | May 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 46647MCJ0
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