By Susanna Moon
Chicago, June 22 – JPMorgan Chase Financial Co. LLC priced $2.97 million of autocallable contingent interest notes due June 22, 2017 linked to the SPDR S&P Biotech exchange-traded fund, 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 14.8% if the fund closes at or above its coupon barrier level, 70% 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 quarterly review date other than the final review date.
The payout at maturity will be par unless the fund finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
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: | Autocallable contingent interest notes
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| Underlying fund: | SPDR S&P Biotech ETF
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| Amount: | $2,973,000
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| Maturity: | June 22, 2017
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| Coupon: | 14.8% annualized, payable quarterly if fund 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 fund falls below trigger level, in which case full exposure to losses
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| Call: | At par plus contingent coupon if fund closes at or above initial level on any review date other than final date
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| Initial level: | $53.33
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| Trigger level: | $37.331, 70% of initial level
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| Pricing date: | June 17
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| Settlement date: | June 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.85%
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| Cusip: | 46646EHU9
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