By Susanna Moon
Chicago, April 13 – JPMorgan Chase Financial Co. LLC priced $1.83 million of autocallable contingent interest notes due July 10, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase & Co. is the guarantor.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the fund closes at or above its coupon barrier, 60% 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 plus the contingent coupon unless the fund finishes below its initial level and ever closes below its 60% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline.
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 Oil & Gas Exploration & Production
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| Amount: | $1,832,000
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| Maturity: | July 10, 2018
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| Coupon: | 8%, payable quarterly if fund closes at or above 60% 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 and ever dips below 60% trigger, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if fund closes at or above initial level on any review date other than first and final dates
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| Initial level: | $37.79
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| Trigger level: | $22.674, 60% of initial level
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| Pricing date: | April 4
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| Settlement date: | April 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646QZ40
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