By Angela McDaniels
Tacoma, Wash., Aug. 30 – JPMorgan Chase Financial Co. LLC priced $2.93 million of autocallable contingent interest notes due Aug. 31, 2017 linked to the lesser performing of the SPDR S&P Biotech exchange-traded fund and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 18.1% per year if each ETF closes at or above its trigger value, 75% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each ETF closes at or above its initial share price on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either ETF finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing ETF finishes below its initial share price.
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 ETF: | SPDR S&P Biotech ETF and Energy Select Sector SPDR fund
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| Amount: | $2,934,000
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| Maturity: | Aug. 31, 2017
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| Coupon: | 18.1% per year, payable quarterly if each ETF closes at or above trigger value on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either ETF finishes below trigger value, in which case 1% loss for every 1% that lesser-performing ETF finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial share price on any quarterly review date other than final review date
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| Initial share prices: | $61.11 for biotech ETF and $69.41 for energy ETF
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| Trigger values: | $45.8325 for biotech ETF and $52.0575 for energy ETF; 75% of initial share prices
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.85%
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| Cusip: | 46646EWH1
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