By Marisa Wong
Morgantown, W.Va., July 19 – JPMorgan Chase Financial Co. LLC priced $650,000 of autocallable contingent interest notes due July 2, 2020 linked to the least performing of the Russell 2000 index, the PowerShares QQQ Trust, Series 1 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.
Each month, the notes will pay a contingent coupon at an annual rate of 6% if each component closes at or above its 67% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any quarterly review date beginning Dec. 29.
The payout at maturity will be par unless any component finishes below its 67% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing component.
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: | Autocallable contingent interest notes
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Underlying assets: | Russell 2000 index, PowerShares QQQ Trust, Series 1 and iShares MSCI EAFE ETF
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Amount: | $650,000
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Maturity: | July 2, 2020
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Coupon: | 6% annualized, payable each month that each underlying component closes at or above coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any component falls below trigger level, in which case 1% loss for each 1% decline of worst performer
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Call: | At par plus contingent coupon if each component closes at or above initial level on any quarterly review date beginning Dec. 29
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Initial levels: | 1,416.199 for index, $137.59 for PowerShares QQQ and $65.16 for iShares EAFE
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Coupon barriers: | 948.85333 for index, $92.1853 for PowerShares QQQ and $43.6572 for iShares EAFE; 67% of initial levels
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Trigger levels: | 948.85333 for index, $92.1853 for PowerShares QQQ and $43.6572 for iShares EAFE; 67% of initial levels
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Pricing date: | June 29
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Settlement date: | July 5
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.9%
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Cusip: | 46647MSY0
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