By Wendy Van Sickle
Columbus, Ohio, Sept. 20 – JPMorgan Chase Financial Co. LLC priced $1.26 million of autocallable contingent interest notes due Sept. 20, 2018 linked to the American Depository Shares of Alibaba Group Holding Ltd., 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 7.5% if the stock closes at or above its 70% coupon barrier on the review date for that quarter. If the notes close above a quarterly coupon barrier, a coupon will also be paid for any previously unpaid 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 70% trigger level, in which case investors will lose 1% for each 1% decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $1,257,000
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| Maturity: | Sept. 20, 2018
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| Coupon: | 7.5% annualized, payable each quarter that stock closes at or above coupon barrier on review date for that quarter; if notes close above a quarterly coupon barrier, a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless stock finishes below trigger price, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any review date other than final date
|
| Initial price: | $176.70
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| Coupon barrier: | $123.69, 70% of initial price
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| Trigger price: | $123.69, 70% of initial price
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
|
| Cusip: | 46647M6A6
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