By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – JPMorgan Chase Financial Co. LLC priced $980,000 of autocallable contingent interest notes due Feb. 5, 2018 linked to the least performing of the common stocks of Bristol-Myers Squibb Co., Pfizer Inc. and Eli Lilly and 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 12% if each stock closes at or above its 65% 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 strike level on any quarterly review date.
The payout at maturity will be par plus the final coupon unless any stock closes below its 65% 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: | Bristol-Myers Squibb Co., Pfizer Inc. and Eli Lilly and Co.
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| Amount: | $980,000
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| Maturity: | Feb. 5, 2018
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| Coupon: | Each quarter, notes pay contingent coupon at annualized rate of 12% if each stock closes at or above barrier level on review date
|
| Price: | Par
|
| 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 strike price on any quarterly review date
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| Strike prices: | $76.44 for Bristol-Myers, $36.67 for Pfizer, $82.93 for Eli Lilly
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| Barrier/trigger prices: | $48.529 for Bristol-Myers, $23.8355 for Pfizer, $53.9045 for Eli Lilly; 65% of strike prices
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| Pricing date: | July 29
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| Settlement date: | Aug. 5
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1.3%
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| Cusip: | 46646ERD6
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