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Published on 3/16/2017 in the Prospect News Structured Products Daily.

New Issue: JPMorgan prices $1.77 million contingent interest autocallables on Bank of America

By Susanna Moon

Chicago, March 16 – JPMorgan Chase Financial Co. LLC priced $1.77 million of autocallable contingent interest notes due June 14, 2018 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% if Bank of America stock closes at or above the 70% coupon barrier on a review date for that quarter.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the first and final dates.

The payout at maturity will be par plus the contingent coupon unless Bank of America shares finish below its initial level and ever close below the 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses.

The notes will be guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the underwriter.

Issuer:JPMorgan Chase Financial Co. LLC
Guarantor:JPMorgan Chase & Co.
Issue:Autocallable contingent interest notes
Underlying stock:Bank of America Corp. (Symbol: BAC)
Amount:$1,765,000
Maturity:June 14, 2018
Coupon:8%, payable quarterly if stock closes at or above 70% coupon barrier on review date for that quarter
Price:Par
Payout at maturity:Par unless Bank of America shares fall and ever dip below 70% trigger, in which case par plus stock return
Call:At par plus contingent coupon if Bank of America shares close at or above initial price on a quarterly review date other than the first and final dates
Initial share price:$25.31
Trigger price:$17.717, 70% of initial price
Pricing date:March 10
Settlement date:March 15
Underwriters:J.P. Morgan Securities LLC
Fees:1.5%
Cusip:46646QH40

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