By Susanna Moon
Chicago, Sept. 8 – JPMorgan Chase Financial Co. LLC priced $2.71 million of 8% autocallable yield notes due March 5, 2019 linked to the least performing of the common stock of the Hilton Worldwide Holdings Inc., Netflix, Inc. and Coach, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par plus the coupon if each stock closes at or above its call level on any review date.
The call level will be 95% of the strike level on the first review date, date, stepping down to 90% of the strike level on the eighth review date and to 85% on the 13th review date.
The payout at maturity will be par of $10 unless any stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Autocallable yield notes
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| Underlying stocks: | Hilton Worldwide Holdings Inc. (Symbol: HLT), Netflix, Inc. (Symbol: NFLX) and Coach, Inc. (Symbol: COH)
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| Amount: | $2,714,000
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| Maturity: | March 5, 2019
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| Coupon: | 8% annualized, payable monthly
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| Price: | Par
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| Call: | At par plus coupon if each stock closes at or above call level on any review date; call level will be 95% of the strike level for the first review date through seventh review date, stepping down to 90% for the eighth review date through the 12th review date and to 85% after that
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Strike levels: | $64.32 for Hilton, $174.69 for Netflix and $41.20 for Coach
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| Trigger levels: | $32.16 for Hilton, $87.345 for Netflix and $20.60 for Coach; 50% of initial levels
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| Strike date: | Aug. 30
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46647M4P5
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