By Susanna Moon
Chicago, Dec. 20 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent interest notes due March 21, 2018 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.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if Facebook shares close at or above the 70% coupon barrier 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 its initial level on any review date other than the first and final dates.
If the stock finishes at or above its initial level and never closes below the 70% barrier level during the life of the notes, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
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: | $1,203,000
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| Maturity: | March 21, 2018
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| Coupon: | 8% annualized for each quarter that Facebook stock closes at or above 70% barrier 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 falls and ever dips below barrier level, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if Facebook shares close at or above initial share price on any quarterly review date other than the first and final dates
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| Initial share price: | $119.87
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| Barrier level: | $83.909, 70% of initial level
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646QDP7
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