By Wendy Van Sickle
Columbus, Ohio, July 7 – JPMorgan Chase Financial Co. LLC priced $1.29 million of 7% autocallable yield notes due July 6, 2017 linked to the common stock of CSX Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial share price on Dec. 30, 2016 or March 30, 2017.
The payout at maturity will be par unless the stock closes below its trigger level, 70% of its initial share price, on any day during the life of the notes and finishes below its initial share price, in which case investors will be fully exposed to the stock’s decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying stock: | CSX Corp.
|
| Amount: | $1,285,000
|
| Maturity: | July 6, 2017
|
| Coupon: | 7% per year, payable monthly
|
| Price: | Par of $1,000
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus coupon; otherwise, full exposure to any losses
|
| Call: | At par if stock closes at or above initial level on any interest payment date
|
| Initial share price: | $26.08
|
| Barrier level: | $18.256, 70% of initial price
|
| Pricing date: | June 30
|
| Settlement date: | July 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 46646EJJ2
|
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