By Susanna Moon
Chicago, June 16 – JPMorgan Chase Financial Co. LLC priced $4.84 million of contingent income autocallable securities due June 5, 2018 linked to United States Steel Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 11.85% if the stock closes at or above its 70% downside threshold on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its 90% call threshold on any quarterly determination date other than the final date.
If the stock finishes at or above its 70% downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to any decline.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| 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: | United States Steel Corp. (Symbol: X)
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| Amount: | $4,837,000
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| Maturity: | June 5, 2018
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| Coupon: | 10% per year, payable quarterly if stock closes at or above its downside threshold on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, full exposure to decline
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| Call: | At par if stock closes at or above 90% call level on any quarterly determination date other than final date
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| Initial level: | $20.85
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| Downside threshold: | $10.425, 50% of initial level
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| Call threshold: | $18.765, 90% of initial level
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | J.P. Morgan Securities LLC
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.25%
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| Cusip: | 48129G869
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