By Susanna Moon
Chicago, April 21 – JPMorgan Chase Financial Co. LLC priced $1.36 million of 16% autocallable yield notes due April 23, 2018 linked to the common stocks of Hertz Global Holdings, Inc. and Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each 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 either stock finishes below its initial level and ever closes below its 55% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse 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 yield notes
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| Underlying stocks: | Hertz Global Holdings, Inc. and Freeport-McMoRan Inc. (Symbol: | )
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| Amount: | $1.36 million
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| Maturity: | April 23, 2018
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| Issue price: | Par
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| Coupon: | 16% annualized, payable monthly
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| Payout at maturity: | Par unless either stock falls and ever dips below 55% trigger, in which case full exposure to any losses of worse performing stock
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| Call: | At par if each stock closes at or above initial level on any review date other than the final date
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| Initial levels: | $15.90 for Hertz and $12.47 for Freeport-McMoRan
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| Trigger levels: | $8.745 for Hertz and $6.8585 for Freeport-McMoRan; 55% of initial levels
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.875%
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| Cusip: | 22549JGB0
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