By Marisa Wong
Morgantown, W.Va., Dec. 12 – JPMorgan Chase Financial Co. LLC priced $6.37 million of callable contingent interest notes due Dec. 11, 2017 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 are guaranteed by JPMorgan Chase & Co.
Every quarter, the notes pay a contingent coupon at an annual rate of 8.25% if each index closes at or above its barrier level, 70% of its initial level, on the review date for during that quarter.
The notes are callable at par on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either index closes below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $6,369,000
|
| Maturity: | Dec. 11, 2017
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| Contingent coupon: | 8.25% per year, payable quarterly if each index closes at or above barrier level on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial level and either index ever closes below trigger level during life of notes, in which case full exposure to decline of lesser-performing index
|
| Call: | Callable at par on any interest payment date other than final one
|
| Initial index levels: | 2,191.95 for S&P 500 and 1,314.253 for Russell 2000
|
| Barrier/trigger levels: | 1,534.365 for the S&P 500 and 919.9771 for Russell 2000; 70% of initial levels
|
| Pricing date: | Dec. 2
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| Settlement date: | Dec. 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
|
| Cusip: | 46646QEH4
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