By Devika Patel
Knoxville, Tenn., Oct. 11 – JPMorgan Chase Financial Co. LLC priced $690,000 of callable contingent interest notes due Oct. 15, 2019 to the least performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a semiannual contingent coupon at an annual rate of 11.75% if each underlying closes at or above its coupon barrier level, 60% of its initial level, on the review date for that semiannual period.
The notes may be called at par in whole but not in part after April 17, 2017 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 either of the underlyings has finished below its trigger value, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the worst-performing underlying.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlyings: | S&P 500 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $690,000
|
| Maturity: | Oct. 15, 2019
|
| Coupon: | Notes pay semiannual contingent coupon at annual rate of 11.75% if each underlying closes at or above coupon barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlying finishes below 60% of its initial value, in which case 1% loss for every 1% decline of worst-performing underlying
|
| Call: | At par plus contingent coupon if each underlying closes at or above initial level on any quarterly review date other than final one, beginning on April 17, 2017
|
| Initial levels: | 2,153.74 for S&P 500 and $38.33 for SPDR S&P Oil & Gas
|
| Coupon/trigger levels: | 1,292.244 for S&P 500 and $22.998 for SPDR S&P Oil & Gas; 60% of initial levels
|
| Pricing date: | Oct. 7
|
| Settlement date: | Oct. 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.6%
|
| Cusip: | 46646EG22
|
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