By Devika Patel
Knoxville, Tenn., Nov. 16 – JPMorgan Chase Financial Co. LLC priced $228,000 of 8% autocallable yield notes due Nov. 17, 2017 linked to Gilead Sciences, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
If the closing share price is greater than or equal to the initial share price on May 15, 2017 or Aug. 14, 2017, the notes will be automatically redeemed at par plus the coupon.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the initial level and the stock closes below the 75% trigger price during the life of the notes, in which case investors will lose 1% for each 1% 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: | Gilead Sciences, Inc. (Symbol: GILD)
|
| Amount: | $228,000
|
| Maturity: | Nov. 17, 2017
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the final share price is less than the initial price and the stock closes below the trigger price during the life of the notes, in which case 1% loss for each 1% decline
|
| Call: | Automatically at par plus coupon if closing share price is greater than or equal to initial share price on May 15, 2017 or Aug. 14, 2017
|
| Initial share price: | $76.75
|
| Trigger price: | $57.5625, 75% of initial share price
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 46646E6B3
|
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