By Susanna Moon
Chicago, June 3 – JPMorgan Chase Financial Co. LLC priced $7.03 million of contingent income autocallable securities due June 2, 2017 linked to the class A common stock Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly payment at an annualized rate of 10.2% if the stock closes at or above its 75% downside threshold level on the observation date for that quarter.
The notes will be redeemed at par of $10 plus the contingent payment if the Facebook closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 75% downside threshold level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC with handling distribution.
| 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: | Facebook, Inc. (Symbol: FB)
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| Amount: | $7,032,470
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| Maturity: | June 2, 2017
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| Coupon: | 10.2% annualized, payable quarterly if Facebook shares close at or above downside threshold level on determination date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | par plus the final coupon unless the stock finishes below 75% downside threshold level, in which case full exposure to any losses
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any determination date other than final determination date
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| Initial share price: | $119.38
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| Downside threshold: | $89.535, 75% of initial share price
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Smith Barney LLC
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| Fees: | 1.25%
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| Cusip: | 46646W763
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