By Devika Patel
Knoxville, Tenn., Oct. 3 – JPMorgan Chase Financial Co. LLC priced $707,000 of autocallable contingent interest notes due Jan. 4, 2018 linked to the class A common stock of Facebook, Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if Facebook shares close at or above the barrier level, 70% of the initial share price, on the review date for that quarter.
Beginning March 29, 2017, the notes will be called at par plus the contingent coupon if Facebook shares close at or above the initial share price on any quarterly review date other than the final one.
If the stock finishes at or above the initial level or has not closed below the barrier level during the life of the notes, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for each 1% decline.
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 contingent interest notes
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| Underlying shares: | Facebook, Inc. (Symbol: FB)
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| Amount: | $707,000
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| Maturity: | Jan. 4, 2018
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| Coupon: | 7.5% annualized for each quarter that Facebook stock closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless the stock finishes below its initial level and closes below barrier level during the life of the notes, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if Facebook shares close at or above initial share price on any quarterly review date other than the final date after March 29, 2017
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| Initial share price: | $128.09
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| Barrier level: | $89.663, 70% of initial share price
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.65%
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| Cusip: | 46646EZP0
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