By Wendy Van Sickle
Columbus, Ohio, May 24 – JPMorgan Chase Financial Co. LLC priced $3.5 million of 4% yield notes due April 25, 2017 linked to the S&P 500 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.
Interest is payable monthly.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below the 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
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: | Yield notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $3.5 million
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| Maturity: | April 25, 2017
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| Coupon: | 4% per year, payable monthly
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below trigger level during life of notes, in which case 1% loss for every 1% that least-performing index’s final level is below initial level
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| Initial levels: | 1,112.276 for Russell 2000 and 2,052.32 for S&P 500
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| Trigger levels: | 778.5932 for Russell 2000 and 1,436.624 for S&P 500; 70% of initial levels
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| Pricing date: | May 20
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| Settlement date: | May 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.625%
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| Cusip: | 46646EDL3
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