By Susanna Moon
Chicago, Aug. 31 – JPMorgan Chase Financial Co. LLC priced $2.42 million of autocallable contingent interest notes due Sept. 13, 2017 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 14.75% if the stock closes at or above its coupon barrier level, 75% of its initial share price, on the review date for that quarter.
The notes will be called at par if the stock closes at or above its initial share price on any quarterly review other than the final review date.
The payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Halliburton Co. (Symbol: HAL)
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| Amount: | $2.42 million
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| Maturity: | Sept. 13, 2017
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| Coupon: | 14.75%, payable quarterly if stock closes at or above trigger price on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if Halliburton shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Halliburton shares close at or above initial price on a quarterly review date
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| Initial share price: | $44.56
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| Trigger price: | $33.42, 75% of initial price
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646EWG3
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