By Devika Patel
Knoxville, Tenn., May 2 – JPMorgan Chase Financial Co. LLC priced $6.05 million of contingent income autocallable securities due May 2, 2019 linked to the lesser-performing of the common stocks of Amazon.com, Inc. and Facebook, Inc., 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 annual rate of 10.1% if the lesser-performing shares close at or above the 70% downside threshold level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if both stocks close at or above the initial price on any determination date other than the final one beginning on July 27, 2017.
The payout at maturity will be par plus the final coupon unless either stock finishes below its downside threshold, in which case investors will lose 1% for each 1% decline of the lesser-performing stock.
J.P. Morgan Securities LLC is the agent, and Morgan Stanley Wealth Management is a distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Amazon.com, Inc. and Facebook, Inc.
|
| Amount: | $6,052,270
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| Maturity: | May 2, 2019
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| Coupon: | 10.1% per year, payable each quarter that each stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price of lesser performing stock is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for each 1% decline of worse performer
|
| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any determination date other than the final one beginning July 27, 2017
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| Initial share prices: | $918.38 for Amazon, $147.70 for Facebook
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| Downside thresholds: | $642.866 for Amazon, $103.39 for Facebook; 70% of initial share prices
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| Pricing date: | April 27
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| Settlement date: | May 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129F325
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