By Marisa Wong
Morgantown, W.Va., Jan. 27 – JPMorgan Chase Financial Co. LLC priced $2.72 million of 8.4% autocallable yield notes due March 1, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable monthly.
The notes will be called at par if the fund closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless the fund closes below its 65% trigger level on any day during the life of the notes and finishes below its initial level, in which case investors will be fully exposed to the decline of the fund.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $2,716,000
|
| Maturity: | March 1, 2018
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| Coupon: | 8.4%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless fund closes below trigger level on any day during life of notes and finishes below its initial level, in which case investors will be fully exposed to fund decline
|
| Call: | At par if fund closes at or above its initial level on any quarterly review date other than final date
|
| Initial price: | $41.34
|
| Trigger level: | $26.871, 65% of initial price
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 46646QVJ1
|
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