By Wendy Van Sickle
Columbus, Ohio, Jan. 24 – JPMorgan Chase Financial Co. LLC priced $1.78 million of autocallable contingent interest notes due Feb. 7, 2018 linked to Broadcom Ltd. 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 11.4% if the stock closes at or above its trigger level, 70% 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 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: | Broadcom Ltd.
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Amount: | $1,775,000
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Maturity: | Feb. 7, 2018
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Issue price: | Par
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Coupon: | 11.4% annualized, payable quarterly if stock closes at or above trigger level 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 the final date
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Initial level: | $191.08
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Trigger level: | $133.756, 70% of initial level
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Pricing date: | Jan. 20
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Settlement date: | Jan. 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 46646QVU6
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