By Marisa Wong
Morgantown, W.Va., Nov. 22 – JPMorgan Chase Financial Co. LLC priced $4.27 million of autocallable contingent interest notes due Dec. 6, 2017 linked to the class A common stock of Facebook, Inc., according to an 424B2 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 12.15% if Facebook shares close at or above the barrier level, 75% of the initial share price, on the review date for that quarter.
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.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 75% trigger level, in which case investors will be fully exposed to the decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying shares: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $4,265,000
|
| Maturity: | Dec. 6, 2017
|
| Coupon: | 12.15% annualized for each quarter that Facebook stock closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless the stock finishes below trigger level, 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
|
| Initial share price: | $117.02
|
| Barrier level: | $87.765, 75% of initial share price
|
| Final price: | Average of closing share prices on five trading days ending Dec. 1, 2017
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 46646QAH8
|
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