By Angela McDaniels
Tacoma, Wash., May 17 – JPMorgan Chase Financial Co. LLC priced $676,000 autocallable contingent interest notes due Nov. 20, 2017 linked to the least performing of the American Depositary Shares of Teva Pharmaceutical Industries Ltd., the common stock of Pfizer Inc. and the common stock of Gilead Sciences, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 15% if each stock closes at or above its trigger value, 65% of its initial price, on the review date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial price on any quarterly review other than the first or final review dates.
The payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the worst-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Teva Pharmaceutical Industries Ltd. (Symbol: TEVA), Pfizer Inc. (Symbol: PFE) and Gilead Sciences, Inc. (Symbol: GILD)
|
| Amount: | $676,000
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| Maturity: | Nov. 20, 2017
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| Coupon: | 15%, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of worst-performing stock
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than first or final ones
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| Initial prices: | $50.30 for Teva, $33.19 for Pfizer and $82.70 for Gilead
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| Trigger values: | $32.695 for Teva, $21.5735 for Pfizer and $53.755 for Gilead; 65% of initial prices
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| Pricing date: | May 13
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| Settlement date: | May 20
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
|
| Cusip: | 46646EBM3
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