By Tali Rackner
Norfolk, Va., Oct. 5 – JPMorgan Chase Financial Co. LLC priced $640,000 of autocallable contingent interest notes due Jan. 5, 2018 linked to the common stock of Kroger Co., 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 6.25% if Kroger shares close at or above the barrier level, 70% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly review date other than the first and final review dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its initial share price and it has closed below its trigger value during the life of the notes, in which case investors will be fully exposed to the stock’s 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: | Autocallable contingent interest notes
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| Underlying shares: | Kroger Co. (Symbol: KR)
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| Amount: | $640,000
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| Maturity: | Jan. 5, 2018
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| Coupon: | 6.25% annualized for each quarter that Kroger stock closes at or above barrier level on review date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon unless the stock finishes below its initial level and closes below barrier level on any day during the life of the notes, in which full exposure to losses
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| Call: | At par plus contingent coupon if Kroger shares close at or above initial share price on any quarterly review date other than the first and final dates
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| Initial share price: | $29.68
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| Barrier level: | $20.776, 70% of initial share price
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.65%
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| Cusip: | 46646EE32
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