By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – JPMorgan Chase Financial Co. LLC priced $1.15 million of autocallable contingent interest notes due Aug. 6, 2018 linked to the least performing of the class P common stock of Kinder Morgan, Inc., and the common units of MPLX LP and Enterprise Products Partners LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 22.75% if each stock closes at or above its 70% barrier level on a review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon unless any stock closes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Autocallable contingent interest notes
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| Underlying stocks: | Kinder Morgan, Inc. (Symbol: KMI), MPLX LP (Symbol: MPLX) and Enterprise Products Partners LP (Symbol: EPD)
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| Amount: | $1.15 million
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| Maturity: | Aug. 6, 2018
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| Coupon: | Each quarter, notes pay contingent coupon at annualized rate of 22.75% if each stock closes at or above barrier level on review date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger level, in which case full exposure to decline of least performing stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date
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| Initial share prices: | $19.56 for Kinder Morgan, $31.34 for MPLX, $27.21 for Enterprise Products
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| Barrier/trigger prices: | $13.692 for Kinder Morgan, $21.938 for MPLX, $19.047 for Enterprise Products; 70% of initial prices
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| Pricing date: | Aug. 1
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| Settlement date: | Aug. 4
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 46646ESZ6
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