By William Gullotti
Buffalo, N.Y., July 13 – JPMorgan Chase Financial Co. LLC priced $12.13 million of 0% review notes due July 11, 2024 linked to the least performing of the stocks of Morgan Stanley and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 12% if each stock closes at or above its applicable call level on any annual review date. The call level will be 100% of the initial level for each stock for each date except the final one when it will be 60% of each stock’s initial level.
If the notes are not called, investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Review notes
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| Underlying stocks: | Morgan Stanley and Facebook, Inc.
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| Amount: | $12,125,000
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| Maturity: | July 11, 2024
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| Coupon: | 0%
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| Price: | Par
|
| Call: | At par plus 12% per year if each stock closes at or above call level on annual review date; call level will be 100% of the initial level for each stock for each date except the final one when it will be 60% of each stock’s initial level
|
| Payout at maturity: | If not called, 1% loss for each 1% decline of worst performing stock
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| Initial levels: | $87.64 for Morgan Stanley, $345.65 for Facebook
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| Trigger levels: | 60% of initial levels
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| Strike date: | July 8
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48132U2L6
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