By Wendy Van Sickle
Columbus, Ohio, March 6 – JPMorgan Chase Financial Co. LLC priced $7.5 million of contingent coupon callable yield notes due Aug. 31, 2018 linked to the FTSE 100 index and the Russell 2000 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 quarterly coupon at the rate of 6.7% per year if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse-performing index.
The notes are callable in whole but not in part at par on any interest payment date other than the first, second and final dates.
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: | Contingent coupon callable yield notes
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Underlying indexes: | FTSE 100, Russell 2000
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Amount: | $7.5 million
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Maturity: | Aug. 31, 2018
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Coupon: | 6.7%, payable quarterly if each index closes at or above barrier level on observation date for quarter
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Price: | Par
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Payout at maturity: | If either index finishes below trigger level, par plus return of worse-performing index; otherwise, par
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Call option: | In whole but not in part at par plus coupon on any interest payment date other than first, second and final dates
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Initial levels: | 7,263.44 for FTSE and 1,386.684 for Russell
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Barrier/trigger levels: | 5,084.408 for FTSE and 970.6788 for Russell; 70% of initial levels
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Pricing date: | Feb. 28
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Settlement date: | March 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 46646QJ48
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