By Marisa Wong
Morgantown, W.Va., Feb. 24 – JPMorgan Chase Financial Co. LLC priced $1 million of 9% yield notes due May 22, 2017 linked to H&E Equipment Services, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the strike level and the stock closes below the 61.98% trigger price during the life of the notes, in which case investors will lose 1% for each 1% decline.
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: | Yield notes
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Underlying stock: | H&E Equipment Services, Inc. (Symbol: HEES)
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Amount: | $1 million
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Maturity: | May 22, 2017
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Coupon: | 9% annualized, payable monthly
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Price: | Par
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Payout at maturity: | Par unless the final share price is less than the initial price and the stock closes below the trigger price during the life of the notes, in which case 1% loss for each 1% decline
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Strike price: | $24.38 (based on intraday trades that occurred on the pricing date)
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Trigger price: | $15.11, 61.98% of strike price
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Pricing date: | Feb. 17
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Settlement date: | Feb. 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 46646QF91
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