By Wendy Van Sickle
Columbus, Ohio, Jan. 20 – JPMorgan Chase Financial Co. LLC priced $484,000 of autocallable contingent interest notes due April 23, 2018 linked to Apple Inc. stock, 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 7% if the stock closes at or above its coupon barrier level, 75% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below its initial level and has closed below its 75% trigger level any day during the life of the notes, in which case investors will be fully exposed to any losses.
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 stock: | Apple Inc. (NYSE: AAPL)
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| Amount: | $484,000
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| Maturity: | April 23, 2018
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| Issue price: | Par
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| Coupon: | 7% annualized, payable quarterly if stock closes at or above 75% coupon barrier on review date for that quarter
|
| Payout at maturity: | Par unless stock finishes below initial level and has closed below trigger level any day during life of notes, in which case full exposure to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than the first and final dates
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| Initial level: | $119.99
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| Trigger level: | $89.9925, 75% of initial level
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 46646QGM1
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