By Angela McDaniels
Tacoma, Wash., June 28 – JPMorgan Chase Financial Co. LLC priced $2.79 million of autocallable contingent interest notes due June 28, 2018 linked to the least performing of the common stock of Netflix, Inc., the class B common stock of Nike, Inc. and the common stock of Citigroup 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 an annual rate of 12% if each stock closes at or above its trigger value, 50% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if each 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 any stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the least-performing stock from its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Netflix, Inc. (Symbol: NFLX), Nike, Inc. (Symbol: NKE) and Citigroup Inc. (Symbol: C)
|
| Amount: | $2,789,000
|
| Maturity: | June 28, 2018
|
| Coupon: | 12%, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of worst-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than final one
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| Initial share prices: | $88.44 for Netflix, $52.59 for Nike and $40.30 for Citigroup
|
| Trigger values: | $44.22 for Netflix, $26.295 for Nike and $20.15 for Citigroup; 50% of initial share prices
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| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.35%
|
| Cusip: | 46646EGJ5
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