By Wendy Van Sickle
Columbus, Ohio, Sept. 14 – JPMorgan Chase Financial Co. LLC priced $918,000 of autocallable contingent interest notes due Dec. 15, 2017 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 7.75% per year if Apple shares close at or above the trigger level, 75% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Apple shares close at or above the initial share price on any review date other than the first and final review dates.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the initial level and the stock has closed below the trigger level any day during the life of the notes, in which case investors will be fully exposed to the decline in the 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: | Autocallable contingent interest notes
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| Underlying stock: | America Inc.
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| Amount: | $918,000
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| Maturity: | Dec. 15, 2017
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| Coupon: | 7.75%, payable quarterly if stock closes at or above trigger level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final contingent interest payment unless final share price is less than initial price and stock has closed below trigger level any day during life of notes, in which case full exposure to decline in share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial price on any quarterly review date other than first and final dates
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| Initial share price: | $105.44
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| Trigger level: | $79.08, 75% of initial share price
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| Pricing date: | Sept. 12
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| Settlement date: | Sept. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.65%
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| Cusip: | 46646EVW9
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