By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – JPMorgan Chase Financial Co. LLC priced $1.03 million of autocallable contingent interest notes due Dec. 11, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.85% if the fund closes at or above its coupon barrier level, 65% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless the fund finishes below its 65% trigger level, in which case investors will be fully exposed to any losses.
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
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,028,000
|
| Maturity: | Dec. 11, 2017
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| Coupon: | 9.85%% annualized, payable quarterly if fund closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless fund falls below trigger level, in which case full exposure to losses
|
| Call: | At par plus contingent coupon if fund closes at or above initial level on any review date other than first and final dates
|
| Initial level: | $37.84
|
| Trigger/barrier level: | $24.596, 65% of initial level
|
| Pricing date: | Sept. 6
|
| Settlement date: | Sept. 9
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 46646EWD0
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