By Susanna Moon
Chicago, Oct. 6 – JPMorgan Chase Financial Co. LLC priced $2.41 million of 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 2, 2017 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock finishes above its initial level, the payout at maturity will be par of $10 plus 150% of the gain, up to a maximum return of 18.35%.
If the stock falls by up to the 90% trigger level, the payout will be par plus the absolute value of the return.
If the stock falls below the 90% trigger level, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
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| Amount: | $2,414,600
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| Maturity: | Nov. 2, 2017
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus 150% of any stock gain, capped at 18.35%; if stock falls by up to 10%, par plus absolute value of return; if stock falls by more than 10%, full exposure to any losses
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| Initial level: | $113.05
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| Trigger level: | $101.745, 90% of initial level
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 1.75%
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| Cusip: | 46646X324
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