By Wendy Van Sickle
Columbus, Ohio, Dec. 20 – JPMorgan Chase Financial Co. LLC priced $9.77 million of autocallable contingent interest notes due Dec. 20, 2018 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.75% if each index closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first through fifth and final dates.
The payout at maturity will be par unless either index finishes below its initial level and either closes below its 70% trigger level any day during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $9,767,000
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| Maturity: | Dec. 20, 2018
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| Coupon: | 8.75% annualized, payable monthly if each index closes at or above coupon barrier on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either index finishes below initial level and either closes below trigger during life of notes, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first through fifth and final dates
|
| Initial index levels: | 1,530.425 for Russell, 3,560.53 for Stoxx
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| Barrier/trigger levels: | 1,071.2975 for Russell, 2,492.371 for Stoxx; 70% of initial levels
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48129HUQ8
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