By Tali Rackner
Minneapolis, Aug. 16 – JPMorgan Chase Financial Co. LLC priced $795,000 of autocallable contingent interest notes due Aug. 29, 2018 linked to the common stock of Pioneer Natural Resources Co., 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 10% if the stock closes at or above its 67.25% coupon barrier 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 final date.
The payout at maturity will be par unless the stock finishes below its 67.25% trigger level, in which case investors will lose 1% for each 1% decline.
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: | Pioneer Natural Resources Co. (Symbol: PXD)
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Amount: | $795,000
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Maturity: | Aug. 29, 2018
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Coupon: | 10% annualized, payable quarterly if stock closes at or above 67.25% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus final coupon unless stock finishes below trigger, in which case 1% loss for each 1% decline
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Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than final date
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Initial level: | $134.02
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Interest barrier/trigger levels: | $90.12845, 67.25% of initial level
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Pricing date: | Aug. 11
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Settlement date: | Aug. 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 46647ML84
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