By Susanna Moon
Chicago, Jan. 9 – JPMorgan Chase Financial Co. LLC priced $15.26 million of 7.25% autocallable yield notes due April 11, 2018 linked to 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 called at par if each stock closes at or above its call level on any review date. The call level will be 95% of the strike level on the first four review dates, stepping down to 90% of the strike level on the next six review dates and to 85% of the strike level on the final three review dates.
The payout at maturity will be par unless any stock finishes below its 55% trigger level, in which case investors will be fully exposed to any decline of the worst 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: | $15,258,000
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| Maturity: | April 11, 2018
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| Issue price: | Par
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| Coupon: | 7.25% annualized, payable monthly
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| Payout at maturity: | Par unless any stock falls by more than 45%, in which case full exposure to any losses of worst performing stock
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| Call: | At par if each stock closes at or above call level on any review date
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| Call levels: | 95% of the strike level on the first four review dates, stepping down to 90% of the strike level on the next six review dates and to 85% of the strike level on the final three review dates
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| Initial levels: | $62.30 for Microsoft, $30.10 for Cisco and $36.24 for Coach
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| Trigger levels: | $34.265 for Microsoft, $16.555 for Cisco and $19.932 for Coach; 55% of initial levels
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| Strike date: | Jan. 4
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46646QTS4
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