By Wendy Van Sickle
Columbus, Ohio, Sept. 14 – JPMorgan Chase Financial Co. LLC priced $2 million of contingent interest notes due April 13, 2017 linked to the lesser 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 are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 3.1% if each index closes at or above its barrier level, 70% of its initial level, on the review date for that quarter.
The payout at maturity will be par unless either index finishes below its initial level and has closed below its 70% trigger level any day during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
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: | Contingent interest notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2 million
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Maturity: | April 13, 2017
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Coupon: | 3.1% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below initial level and either index falls below trigger level any day during life of notes, in which case full exposure to any losses of worse performing index
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Initial levels: | 2,159.04 for S&P and 1,235.871 for Russell
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Barrier/trigger levels: | 1,511.328 for S&P and 865.1097 for Russell; 70% of initial levels
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Pricing date: | Sept. 12
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Settlement date: | Sept. 15
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.4%
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Cusip: | 46646EZG0
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