By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – JPMorgan Chase Financial Co. LLC priced $2.72 million of autocallable contingent interest notes due Dec. 20, 2017 linked to the common stock of Bank of America Corp., 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 an annual rate of 14.8% if the stock closes at or above its trigger level, 80% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly review other than the final review date.
The payout at maturity will be par unless the stock finishes below its trigger level, in which case investors will be exposed to the stock’s decline from its 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: | Autocallable contingent interest notes
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| Underlying stock: | Bank of America Corp.
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| Amount: | $2,715,000
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| Maturity: | Dec. 20, 2017
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| Coupon: | 14.8%, payable quarterly if stock closes at or above trigger level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if stock finishes at or above trigger level; otherwise, exposure to decline of stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial price on any quarterly review date other than final one
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| Initial share price: | $21.23
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| Final share price: | Average of closing share prices on five trading days ending Dec. 14, 2017
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| Trigger level: | $16.984, 80% of initial share price
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| Pricing date: | Dec. 2
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| Settlement date: | Dec. 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646QDY8
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