By Wendy Van Sickle
Columbus, Ohio, June 23 – JPMorgan Chase Financial Co. LLC priced $1.62 million of autocallable contingent interest notes due June 24, 2021 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.75% if the ETF closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter.
Beginning Sept. 20, 2017, the notes will be automatically called at par plus the contingent coupon if the ETF closes at or above its initial level on any quarterly review date other than the final one.
If the notes have not been called, the payout at maturity will be par plus the final coupon, if any, unless the ETF finishes below its 65% trigger value, in which case investors will lose 1% for every 1% that the ETF finishes below its initial level.
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 exchange-traded fund
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| Amount: | $1.62 million
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| Maturity: | June 24, 2021
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| Coupon: | 7.75%, payable quarterly if ETF closes at or above its interest barrier on review date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon ETF closes at or above its initial level on any quarterly review date other than final one
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| Initial price: | $21.80
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| Barrier price: | $15.26, 70% of initial price
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| Trigger price: | $14.17, 65% of initial price
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| Pricing date: | June 20
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| Settlement date: | June 23
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 46647MHZ9
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