By Devika Patel
Knoxville, Tenn., May 25 – JPMorgan Chase Financial Co. LLC priced $770,000 of autocallable contingent interest notes due May 26, 2022 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase & Co. is the guarantor.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.25% if the index closes at or above its coupon barrier level, 80% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly review date other than the final one beginning May 23, 2018.
If the notes have not been called, the payout at maturity will be par plus the final coupon if the index closes above its trigger value, 80% of its initial level.
Otherwise investors will lose 1% for each 1% decline of the index from the 80% 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 contingent interest notes
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| Underlying index: | S&P GSCI Crude Oil Index Excess Return
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| Amount: | $770,000
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| Maturity: | May 26, 2022
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 6.25% if index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless index finishes below 80% of its initial value, in which case 1% loss for each 1% decline of index from 80% level
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any quarterly review date other than final one beginning May 23, 2018
|
| Initial level: | 156.8416
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| Coupon barrier/trigger level: | 125.47328, 80% of initial level
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| Pricing date: | May 23
|
| Settlement date: | May 26
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%
|
| Cusip: | 46647MKN2
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