By Marisa Wong
Morgantown, W.Va., Sept. 26 – JPMorgan Chase Financial Co. LLC priced $14.86 million of 7.1% autocallable yield notes due Dec. 28, 2017 linked to least performing of the common stocks of Microsoft Corp., Cisco Systems, Inc. and Coach, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be automatically redeemed at par if each stock closes at or above the applicable call value on any monthly review date. The call value is 95% of the initial price for the first four review dates, stepping down to 90% of the initial price for the next six review dates and 85% of the initial price for the last three dates.
The payout at maturity will be par unless any stock finishes below its trigger value, 55% of its initial price, in which case investors will be fully exposed to the decline of the least performing stock.
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 yield notes
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| Underlying stocks: | Microsoft Corp. (Symbol: MSFT), Cisco Systems, Inc. (Symbol: CSCO) and Coach, Inc. (Symbol: COH)
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| Amount: | $14.86 million
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| Maturity: | Dec. 28, 2017
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| Coupon: | 7.1%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger level, in which case par plus return of least performing stock with full exposure to losses
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| Call: | Automatically at par if each stock closes at or above applicable call value on any monthly review date; call value is 95% of the initial price for the first four review dates, stepping down to 90% of the initial price for the next six review dates and 85% of the initial price for the last three dates
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| Initial share prices: | $57.76 for Microsoft, $31.36 for Cisco, $36.03 for Coach
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| Trigger values: | $31.768 for Microsoft, $17.248 for Cisco, $19.8165 for Coach; 55% of initial share prices
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46646EE65
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