By Marisa Wong
Morgantown, W.Va., Feb. 24 – JPMorgan Chase Financial Co. LLC priced $745,000 of autocallable contingent interest notes due May 22, 2018 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the trigger price, 70% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon for that quarter at the rate of 7% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on any quarterly review date other than the first and final dates, the notes will be called at par plus the contingent coupon.
If the notes are not called, the payout at maturity will be par unless the stock closes below the trigger price on any day during the life of the notes and finishes below the initial price, in which case investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
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 stock: | Facebook, Inc. (Nasdaq: FB)
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Amount: | $745,000
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Maturity: | May 22, 2018
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Coupon: | 7% per year, payable each quarter that stock closes at or above trigger price on review date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless the stock closes below the trigger price on any day during the life of the notes and finishes below the initial price, in which case investors will be exposed to the share price decline from the initial price
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Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly review date other than first and final dates
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Initial share price: | $133.53
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Trigger price: | $93.471, 70% of initial price
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Pricing date: | Feb. 17
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Settlement date: | Feb. 23
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 46646QYU3
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