By Susanna Moon
Chicago, July 28 – JPMorgan Chase Financial Co. LLC priced $3.59 million of 0% trigger autocallable contingent yield notes due July 24, 2020 linked to Starbucks 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 7% if the stock closes at or above its coupon barrier, 79.5% of its initial level, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 79.5% trigger level, in which case investors will be fully exposure to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Starbucks Corp. (Symbol: SBUX)
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| Amount: | $3,592,000
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| Maturity: | July 24, 2020
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| Contingent coupon: | 7%, payable quarterly if stock closes at or above 79.5% coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if stock closes at or above its initial level on any quarterly observation date beginning Jan. 22, 2018
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| Payout at maturity: | Par unless stock finishes below 79.5% threshold, in which case 1% loss for each 1% decline
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| Initial level: | $57.98
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| Trigger level: | $46.09, 79.5% of initial level
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129G349
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