By Devika Patel
Knoxville, Tenn., Sept. 27 – JPMorgan Chase Financial Co. LLC priced $1.62 million autocallable contingent interest notes due Sept. 27, 2018 linked to the least performing of the common stocks of Lockheed Martin Corp., Northrop Grumman Corp. and Boeing Co., 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 9% if each stock closes at or above its 60% barrier level on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its strike level on any quarterly review date other than the first and final review dates.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline 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: | Lockheed Martin Corp. (Symbol: LMT), Northrop Grumman Corp. (Symbol: NOC), Boeing Co. (Symbol: BA)
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Amount: | $1.62 million
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Maturity: | Sept. 27, 2018
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Coupon: | 9%, payable quarterly if each stock closes at or above barrier level on quarterly 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 1% loss for each 1% decline of least performing stock
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Call: | Automatically at par plus contingent coupon if each stock closes at or above strike price on any quarterly review date other than the first and final review dates
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Initial prices: | $245.84 for Lockheed Martin, $217.05 for Northrop, $131.78 for Boeing
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Barrier/trigger prices: | $147.504 for Lockheed Martin, $130.23 for Northrop, $79.068 for Boeing; 60% of initial prices
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Pricing date: | Sept. 23
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Settlement date: | Sept. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.55%
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Cusip: | 46646EC67
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