By Devika Patel
Knoxville, Tenn., Oct. 11 – JPMorgan Chase Financial Co. LLC priced $895,000 of autocallable contingent interest notes due Oct. 25, 2017 linked to the common stock of Home Depot, Inc., according to a 424B2 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 8.1% if Home Depot shares close at or above the barrier level, 80% of the initial share price, on the review date for that quarter.
Beginning Jan. 19, 2017, the notes will be called at par plus the contingent coupon if Home Depot shares close at or above the initial share price on any quarterly review date other than the final one.
If the stock finishes at or above the 80% trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying shares: | Home Depot, Inc. (Symbol: HD)
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| Amount: | $895,000
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| Maturity: | Oct. 25, 2017
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| Coupon: | 8.1% annualized for each quarter that Home Depot stock closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless the stock finishes below its trigger level, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if Home Depot shares close at or above initial share price on any quarterly review date other than the final date after Jan. 19, 2017
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| Initial share price: | $128.31
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| Barrier/trigger level: | $102.648, 80% of initial share price
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| Pricing date: | Oct. 7
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| Settlement date: | Oct. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646ES78
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