By Susanna Moon
Chicago, April 3 – JPMorgan Chase Financial Co. LLC priced $2.32 million of trigger autocallable contingent yield notes due March 18, 2020 linked to Ford Motor Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 11.75% if the stock closes at or above its 75% coupon barrier on the determination date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Trigger autocallable contingent yield notes
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| Underlying stock: | Ford Motor Co. (Symbol: F)
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| Amount: | $2,322,000
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| Maturity: | March 18, 2020
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| Coupon: | 11.75% annualized, payable quarterly if stock closes at or above 75% coupon barrier on determination date that quarter
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above 75% downside threshold, par; otherwise, 1% loss per 1% decline
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| Call: | At par if stock closes at or above its initial level on each quarterly observation date beginning April 30, 2018
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| Initial level: | $11.15
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| Downside threshold: | $8.36, 75% of initial level
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129L488 /
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