By Marisa Wong
Morgantown, W.Va., June 3 – JPMorgan Chase Financial Co. LLC priced $2.34 million of contingent coupon callable yield notes due May 31, 2018 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, 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 the rate of 10.2% per year if each underlying closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any underlying finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performer.
The notes are callable in whole but not in part at par on any interest payment date other than the final date.
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: | Contingent coupon callable yield notes
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| Underlyings: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $2.34 million
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| Maturity: | May 31, 2018
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| Coupon: | 10.2%, payable quarterly if each underlying closes at or above barrier level on observation date for quarter
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| Price: | Par
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| Payout at maturity: | If any underlying finishes below trigger level, par plus return of worst performer; otherwise, par
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| Call option: | In whole but not in part at par plus coupon on any interest payment date other than final date
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| Initial levels: | 2,090.54 for S&P 500, 1,141.024 for Russell 2000 or $58.56 for ETF
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| Trigger levels: | 1,463.378 for S&P 500, 798.7168 for Russell 2000 or $40.992 for ETF; 70% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646ECF7
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