By Devika Patel
Knoxville, Tenn., April 19 – JPMorgan Chase Financial Co. LLC priced $2.64 million autocallable contingent interest notes due April 22, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to an 424B2 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 9% if the fund closes at or above the barrier level, 65% of the initial price, 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 the initial price on any quarterly review date other than the final one beginning Oct. 17, 2017.
If the fund finishes at or above the barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, 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 ETF: | VanEck Vectors Gold Miners
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| Amount: | $2.64 million
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| Maturity: | April 22, 2020
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| Coupon: | 9% annualized for each quarter that the fund closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless the fund finishes below the barrier level, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if the fund closes at or above initial share price on any quarterly review date other than the final date beginning Oct. 17, 2017
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| Initial price: | $24.47
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| Barrier level: | $15.9055, 65% of initial price
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| Pricing date: | April 17
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| Settlement date: | April 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 46646QPL3
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