By Wendy Van Sickle
Columbus, Ohio, June 1 – JPMorgan Chase Financial Co. LLC priced $2.3 million of contingent coupon autocallable yield notes due June 1, 2018 linked to the common stock of Alibaba Group Holding Ltd., 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 11% if Alibaba stock closes at or above the barrier level, 75% of the initial share price, on the observation date for that quarter.
The payout at maturity will be par plus the final coupon unless Alibaba finishes below the 75% barrier level, in which case investors will be fully exposed to any losses.
The notes will be called at par if the stock closes at or above initial level on any interest payment date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $2,301,000
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| Maturity: | June 1, 2018
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| Coupon: | 11% per year, payable quarterly if stock closes at or above barrier price on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | If stock finishes at or above barrier level, par plus coupon; otherwise, full exposure to any losses
|
| Call: | At par if stock closes at or above initial level on any interest payment date
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| Initial share price: | $78.35
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| Barrier level: | $58.7625, 75% of initial price
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 46646EDU3
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