By Devika Patel
Knoxville, Tenn., March 28 – JPMorgan Chase Financial Co. LLC priced $9.2 million of callable contingent interest notes due March 31, 2020 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a semiannual contingent coupon at an annual rate of 8.75% if each index closes at or above its trigger level, 70% of its initial level, on the review date for that semiannual period.
The notes may be called at par in whole but not in part beginning Oct. 2, 2017 on any semiannual interest payment date other than the final one.
If the notes have not been called, the payout at maturity will be par plus the coupon unless either index has finished below its trigger level, 70% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000 index and Euro Stoxx 50
|
| Amount: | $9,199,000
|
| Maturity: | March 31, 2020
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| Coupon: | Notes pay semiannual contingent coupon at annual rate of 8.75% if each index closes at or above trigger level on review date for that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless either index finishes below 70% of its initial value, in which case 1% loss for every 1% decline of worst-performing index from initial level
|
| Call: | At par on any semiannual interest payment date other than final one beginning on Oct. 2, 2017
|
| Initial levels: | 1,354.642 for Russell 2000 and 3,444.15 for Euro Stoxx 50
|
| Trigger levels: | 948.2494 for Russell 2000 and 2,410.905 for Euro Stoxx 50; 70% of initial levels
|
| Pricing date: | March 24
|
| Settlement date: | March 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.975%
|
| Cusip: | 46646QL94
|
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