By Marisa Wong
Morgantown, W.Va., July 21 – JPMorgan Chase Financial Co. LLC priced $6.12 million of autocallable yield notes due Oct. 4, 2018 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The interest rate will be 6.25% per year, and interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date other than the final one.
The payout at maturity will be par unless either index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and the return of the least-performing index is negative, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $6,116,000
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| Maturity: | Oct. 4, 2018
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| Coupon: | 6.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger level during the life of the notes and return of least-performing index is negative, in which case 1% loss for every 1% decline of worse performing index
|
| Call: | At par if each index closes at or above the initial level on any quarterly observation date other than the final one
|
| Initial index levels: | 2,423.41 for S&P, 1,415.359 for Russell
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| Trigger levels: | 1,696.387 for S&P, 990.7513 for Russell, 70% of initial levels
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| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.43707%
|
| Cusip: | 46647MKX0
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