By Marisa Wong
Morgantown, W.Va., Aug. 6 – JPMorgan Chase Financial Co. LLC priced $6.92 million of 7% autocallable yield notes due Oct. 31, 2019 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 be guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to the decline of the lesser performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $6,917,000
|
| Maturity: | Oct. 31, 2019
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| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its initial and either index ever closes below trigger level, in which case full exposure to decline of lesser performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly review date after six months
|
| Initial levels: | 1,670.805 for Russell and 2,816.29 for S&P
|
| Trigger levels: | 1,169.5635 for Russell and 1,971.403 for S&P; 70% of initial levels
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.46111%
|
| Cusip: | 48129M6X9
|
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