By Marisa Wong
Morgantown, W.Va., March 31 – JPMorgan Chase Financial Co. LLC priced $6.38 million of 7.3% yield notes due May 31, 2017 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
The payout at maturity will be par unless the rate falls by more than 20%, in which case investors will lose 1.25% for each 1% drop beyond 20%.
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: | Yield notes
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Underlying: | 10-year U.S. dollar ICE swap rate
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Amount: | $6.38 million
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Maturity: | May 31, 2017
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Coupon: | 7.3%, payable quarterly
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Price: | Par of $1,000
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Payout at maturity: | Par unless the rate falls by more than 20%, in which case 1.25% loss for each 1% drop beyond 20%
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Initial rate: | 1.716%
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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%
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Cusip: | 46646EDM1
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