JPMorgan amends rate, dates for contingent interest notes on Facebook

By Marisa Wong

Morgantown, W.Va., Feb. 13 – JPMorgan Chase Financial Co. LLC amended the interest rate and the pricing and maturity dates for its upcoming autocallable contingent interest notes linked to Facebook, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will mature on May 22, 2018, instead of May 15, 2018 as stated in a previous 424B2 filing.

The notes will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 7% – decreased from 7.5% – if the stock closes at or above the 70% coupon barrier level on the determination date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on any quarterly call review date other than the first and final ones.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is lower than the initial price and the stock closes below the 70% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline of the stock from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price on Feb. 17, instead of Feb. 10 as previously announced.

The Cusip number is 46646QYU3.

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