By Angela McDaniels
Tacoma, Wash., Aug. 8 – JPMorgan Chase Financial Co. LLC priced $600,000 of callable contingent interest notes due Aug. 13, 2018 linked to 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 11% if Gilead Sciences stock closes at or above the trigger level, 75% of the initial share price, on the review date for that quarter.
The notes are callable at par on any interest payment date other than the final interest payment date.
The payout at maturity will be par unless the stock finishes below its trigger level, in which case investors will be fully exposed to its decline from its initial share price.
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: | Callable contingent interest notes
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| Underlying stock: | Gilead Sciences Inc. (Symbol: GILD)
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| Amount: | $600,000
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| Maturity: | Aug. 13, 2018
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| Coupon: | 11%, payable quarterly if stock closes at or above trigger level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if stock finishes at or above trigger level; otherwise, exposure to decline of stock from initial share price
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| Call option: | At par on any interest payment date other than final interest payment date
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| Initial share price: | $79.77
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| Trigger level: | $59.8275, 75% of initial share price
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| Pricing date: | Aug. 4
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| Settlement date: | Aug. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.6%
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| Cusip: | 46646EUA8
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