By Tali Rackner
Minneapolis, Nov. 15 – JPMorgan Chase Financial Co. LLC priced $2.61 million of autocallable contingent interest notes due Nov. 21, 2018 linked to the common stock of Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 12.15% if the stock closes at or above its 80% coupon barrier on the review date for that quarter, plus a coupon will also be paid for any quarter during which no coupon was paid.
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 final stock price is below its 80% 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: | Bristol-Myers Squibb Co.
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| Amount: | $2,605,000
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| Maturity: | Nov. 21, 2018
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| Coupon: | 12.15% annualized, payable each quarter that stock closes at or above coupon barrier on review date for that quarter, a coupon will also be paid for any previous quarter during which no coupon was paid
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless final stock price is below trigger price, 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 price on any review date other than final date
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| Initial price: | $62.22
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| Interest barrier/trigger: | $49.776, 80% of initial price
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129HMY0
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