By Susanna Moon
Chicago, Feb. 23 – JPMorgan Chase Financial Co. LLC priced $1.1 million of autocallable contingent interest notes due March 7, 2018 linked to Bank of America Corp. stock, 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 10% if the stock closes at or above its coupon barrier level, 73.9% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 73.9% trigger level, in which case investors will be fully exposed to any losses.
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 stock: | Bank of America Corp. (NYSE: BAC)
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| Amount: | $1.1 million
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| Maturity: | March 7, 2018
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| Issue price: | Par
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| Coupon: | 10% annualized, payable quarterly if stock closes at or above 73.9% coupon barrier on review date for that quarter
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| Payout at maturity: | Par unless stock finishes below trigger level, in which case full exposure to any losses
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than final date
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| Initial share price: | $24.52
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| Trigger level: | $18.12028, 73.9% of initial level
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| Pricing date: | Feb. 17
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| Settlement date: | Feb. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646QLL7
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