By Marisa Wong
Morgantown, W.Va., Feb. 21 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due March 2, 2018 linked to the common stock of Macy’s, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above its coupon barrier, 52% of its initial price, on a quarterly review date, the notes will pay a contingent coupon that quarter at an annual rate of 10%.
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 final date.
The payout at maturity will be par unless the stock finishes below its 52% trigger level, 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Macy’s, Inc. (Symbol: M)
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| Amount: | $1 million
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| Maturity: | March 2, 2018
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| Coupon: | 10% per year, payable each quarter that stock closes at or above its barrier price on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
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| Call: | Automatically at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the final date
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| Initial share price: | $32.68
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| Barrier/trigger price: | $16.9936, 52% of initial price
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| Final share price: | Average of closing share prices on five trading days ending Feb. 27, 2018
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646QLF0
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