By Devika Patel
Knoxville, Tenn., April 11 – JPMorgan Chase Financial Co. LLC priced $1.61 million autocallable contingent interest notes due July 12, 2018 linked to the common stock of Amazon.com, Inc., according to an 424B2 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 7% if Amazon shares close at or above the barrier level, 70% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if Amazon shares close at or above the initial share price on any quarterly review date other than the final one beginning Oct. 13, 2017.
If the stock finishes at or above its initial level and never closes below the barrier level during the life of the notes, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for each 1% decline.
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 shares: | Amazon.com, Inc. (Symbol: AMZN)
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| Amount: | $1,607,000
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| Maturity: | July 12, 2018
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| Coupon: | 7% annualized for each quarter that Amazon stock closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless the stock finishes below its initial level and closes below the barrier level during the life of the notes, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if Amazon shares close at or above initial share price on any quarterly review date other than the final date beginning Oct. 13, 2017
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| Initial share price: | $894.88
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| Barrier level: | $626.416, 70% of initial share price
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| Pricing date: | April 7
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| Settlement date: | April 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 46646QNH4
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