By Devika Patel
Knoxville, Tenn., April 11 – JPMorgan Chase Financial Co. LLC priced $1.12 million of callable contingent interest notes due April 12, 2018 linked to the least performing of the S&P 500 index, 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8% if each index closes at or above its trigger level, 67.5% of its initial level, on the review date for that quarter.
Beginning July 12, the notes may be called in whole but not in part at par on any interest payment date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index has closed below its trigger level, 67.5% of its initial level, during the life of the notes, in which case investors will lose 1% for every 1% decline of the worst 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: | Callable contingent interest notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50
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| Amount: | $1,118,000
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| Maturity: | April 12, 2018
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 8% if each index closes at or above trigger level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index closes below 67.5% of its initial value during the life of the notes, in which case 1% loss for every 1% decline of worst-performing index
|
| Call: | At par on any quarterly review date other than final one, beginning on July 12
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| Initial levels: | 2,355.54 for S&P, 1,364.563 for Russell and 3,495.80 for Euro Stoxx
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| Trigger levels: | 1,589.9895 for S&P, 921.08003 for Russell and 2,359.665 for Euro Stoxx; 67.5% of initial levels
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| Pricing date: | April 7
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| Settlement date: | April 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 46646Q5D3
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