By Tali Rackner
Minneapolis, June 21 – JPMorgan Chase Financial Co. LLC priced $630,000 of autocallable contingent interest notes due July 5, 2018 linked to common stock of ON Semiconductor Corp., 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 ON shares close at or above its interest barrier level, 60.5% 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 share price on any review date other than the final date.
The payout at maturity will be par plus the contingent coupon, if any, unless the final stock price is below the 60.5% trigger level, in which case investors will lose 1% for each 1% decline.
The final stock price will be equal to the average closing prices for the five days ending June 29, 2018.
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: | ON Semiconductor Corp.
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| Amount: | $630,000
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| Maturity: | July 5, 2018
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| Coupon: | 10% annualized, payable quarterly if stock closes at or above interest barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless final stock price is below the 60.5% trigger level, in which case investors will lose 1% for each 1% decline
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| Call: | At par plus contingent coupon if ON shares close at or above initial price on any review date other than the final date
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| Initial price: | $15.38
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| Interest barrier/trigger level: | $9.3049; 60.5% of initial levels
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46647MHS5
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