By Susanna Moon
Chicago, Sept. 11 – JPMorgan Chase Financial Co. LLC priced $3.42 million of contingent income autocallable securities due Sept. 7, 2018 linked to Biogen Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the stock closes at or above the downside threshold level, 80% of the initial share price, on a date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any determination date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Biogen Inc. (Symbol: BIIB)
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| Amount: | $3,242,940
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| Maturity: | Sept. 7, 2018
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| Coupon: | 9% per year, payable quarterly if shares close at or above the downside threshold on quarterly determination date
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any determination date other than the final date
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| Initial price: | $321.01
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| Downside threshold: | $256.808, 80% of initial price
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| Pricing date: | Sept. 1
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| Settlement date: | Sept. 7
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Smith Barney LLC
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| Fees: | 1.25%
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| Cusip: | 48129J715
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