By Tali Rackner
Norfolk, Va., Oct. 5 – JPMorgan Chase Financial Co. LLC priced $596,500 of contingent income autocallable securities due April 4, 2017 linked to the common stock of Nvidia Corp., 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 monthly coupon at an annualized rate of at least 14.1% if Nvidia stock closes at or above its 75% downside threshold level on the observation date for that month.
The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 75% downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.
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: | Contingent income autocallable securities
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| Underlying stock: | Nvidia Corp. (Symbol: NVDA)
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| Amount: | $596,500
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| Maturity: | April 4, 2017
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| Coupon: | 14.1% per year, payable monthly if Nvidia shares close at or above downside threshold level on observation date for that month
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| Price: | Par of $10
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
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| Call: | At par plus contingent coupon if Nvidia shares close at or above initial share price on any determination date other than final date
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| Initial share price: | $68.52
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| Downside threshold: | $51.39, 75% of initial share price
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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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| Fees: | 1.25%
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| Cusip: | 46646X241
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