By Devika Patel
Knoxville, Tenn., May 5 – JPMorgan Chase Financial Co. LLC priced $11.86 million of autocallable contingent interest notes due May 8, 2018 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, 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 monthly coupon at an annual rate of 8% if each index closes at or above its trigger level, 70% of its initial level, on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on Nov. 3, 2017 or Feb. 5, 2018.
The payout at maturity will be par unless either index finishes below its initial level and closes below the 70% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline of the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $11,863,000
|
| Maturity: | May 8, 2018
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| Coupon: | 8% annualized, payable monthly if each underlying index closes at or above coupon barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below initial level and closes below trigger level during the life of the notes, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on Nov. 3, 2017 or Feb. 5, 2018
|
| Initial levels: | 1,390.922 for Russell and 3,586.25 for Stoxx
|
| Trigger levels: | 973.6454 for Russell and 2,510.375 for Stoxx; 70% of initial levels
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| Pricing date: | May 3
|
| Settlement date: | May 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 46646Q7F6
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