By Angela McDaniels
Tacoma, Wash., Oct. 18 – JPMorgan Chase Financial Co. LLC priced $12.25 million of 0% dual directional review notes due April 19, 2018 linked to 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.
If each underlier closes at or above its initial level on April 17, 2017, Oct. 16, 2017 or April 16, 2018, the notes will be automatically called and investors will receive par plus a call premium of 11.3% per year.
If the notes have not been called and (a) the final level of one underlier is greater than or equal to its initial level and the final level of the other underlier is less than its initial level by up to 20% or (b) the final level of each underlier is less than its initial level by up to 20%, the payout at maturity will be par plus the absolute value of the lesser-performing underlier’s return.
If the final level of either underlier is less than its initial level by more than 20%, investors will lose 1.25% for every 1% that the lesser-performing underlier declines beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional review notes
|
| Underliers: | Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $12,246,000
|
| Maturity: | April 19, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlier’s return is greater than or equal to negative 20%, par plus absolute value of lesser-performing underlier’s return; if final level of either underlier is less than initial level by more than 20%, 1.25% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | Automatically at par plus 11.3% per year if each underlier closes at or above initial level on April 17, 2017, Oct. 16, 2017 or April 16, 2018
|
| Initial levels: | 1,212.408 for index and $57.67 for ETF
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.20815%
|
| Cusip: | 46646EX72
|
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