By Susanna Moon
Chicago, Oct. 18 – JPMorgan Chase Financial Co. LLC priced $2.98 million of trigger autocallable contingent yield notes due Oct. 19, 2020 linked to the lesser performing of the Euro Stoxx 50 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.
The notes will pay a contingent quarterly coupon at an annual rate of 9.1% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 and S&P 500
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| Amount: | $2,979,000
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| Maturity: | Oct. 19, 2020
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| Contingent coupon: | 9.1%, payable quarterly if indexes close at or above downside threshold level on quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index closes below 70% downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date beginning April 18, 2017
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| Initial levels: | 3,025.19 for Stoxx and 2,132.98 for S&P
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| Downside thresholds: | 2,117.63 for Stoxx and 1,493.09 for S&P; 70% of initial levels
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| Pricing date: | Oct. 14
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| Settlement date: | Oct. 19
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646X126
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