By Devika Patel
Knoxville, Tenn., April 7 – JPMorgan Chase Financial Co. LLC priced $1.5 million of autocallable contingent interest notes due April 10, 2024 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase & Co. is the guarantor.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if the fund closes at or above its coupon barrier level, 60% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the fund closes at or above its initial level on any review date other than the final one, beginning on Oct. 5, 2017.
If the notes have not been called, the payout at maturity will be par plus the final coupon if the fund finishes above its trigger level, 60% of its initial level.
Otherwise investors will lose 1% for each 1% decline of the fund from its initial level.
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 ETF: | Vaneck Vectors Gold Miners
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| Amount: | $1.5 million
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| Maturity: | April 10, 2024
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| Coupon: | 8.4%, payable quarterly if fund closes at or above coupon barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless fund finishes below 60% of its initial value, in which case 1% loss for each 1% decline from initial level
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| Call: | Automatically at par plus contingent coupon if fund closes at or above initial level on any review date other than the final one, beginning on Oct. 5, 2017
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| Initial level: | $23.48
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| Coupon barrier/trigger level: | $14.088; 60% of initial level
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| Pricing date: | April 5
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| Settlement date: | April 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.85%
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| Cusip: | 46646QPZ2
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