By Susanna Moon
Chicago, Oct. 25 – JPMorgan Chase Financial Co. LLC priced $2.52 million of contingent coupon autocallable yield notes due Oct. 26, 2017 linked to Apple Inc. shares and the class A common stocks of Facebook, Inc. and Alphabet Inc. due October 26, 2017, 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 coupon at an annualized rate of 10% if each stock closes at or above its coupon barrier level, 70% of the initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly valuation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below the 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Apple Inc. (Symbol: AAPL), Facebook, Inc. (Symbol: FB) and Alphabet Inc. (Symbol: GOOGL)
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| Amount: | $2,519,000
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| Maturity: | Oct. 26, 2017
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| Coupon: | 10% per year, payable per quarter that each stock closes at or above its 70% coupon barrier on the observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below 70% trigger level, in which case full exposure to any losses of the worst performing stock
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| Call: | At par plus the contingent coupon if each stock closes at or above the initial level on any quarterly valuation date other than final date
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| Initial levels: | $116.60 for Apple, $132.07 for Facebook and $824.06 for Alphabet
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| Trigger levels: | $81.62 for Apple, $92.449 for Facebook and $576.842 for Alphabet; 70% of initial levels
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| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 46646EU42
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