By Wendy Van Sickle
Columbus, Ohio, June 16 – JPMorgan Chase Financial Co. LLC priced $4.17 million of autocallable contingent interest notes due Sept. 19, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either index closes below its 70% trigger any day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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 indexes: | Russell 2000, S&P 500
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Amount: | $4.17 million
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Maturity: | Sept. 19, 2018
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Coupon: | 7% annualized, payable quarterly if each underlying index closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless either index closes below its 70% trigger any day during the life of the notes and either index finishes below its initial level, in which case 1% loss for each 1% decline of worse performing index
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Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final date
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Initial levels: | 2,437.92 for S&P, 1,417.573 for Russell
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Trigger levels: | 1,706.544 for S&P, 992.3011 for Russell, 70% of initial levels
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Pricing date: | June 14
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Settlement date: | June 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.45618%
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Cusip: | 46647MLK7
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