By Susanna Moon
Chicago, Aug. 19 – JPMorgan Chase Financial Co. LLC priced $4 million of 8.5% autocallable yield notes due Feb. 23, 2018 linked to least performing of the common stocks of Kansas City Southern, Norfolk Southern Corp. and Union Pacific Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be redeemed at par if each stock closes at or above its initial level on any quarterly review date other than the final review date.
The payout at maturity will be par unless any stock closes below its trigger level, 64% of its initial level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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 yield notes
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| Underlying stocks: | Kansas City Southern (Symbol: KSU), Norfolk Southern Corp. (Symbol: NSC) and Union Pacific Corp. (Symbol: UNP)
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| Amount: | $4 million
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| Maturity: | Feb. 23, 2018
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| Coupon: | 8.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger level, in which case par plus return of least performing stock with full exposure to losses
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| Call: | At par if each stock closes at or above initial share price on any quarterly review date other than final review date
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| Initial levels: | $97.57 for Kansas City Southern, $89.82 for Norfolk Southern and $94.57 for Union Pacific
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| Trigger levels: | $62.4448 for Kansas City Southern, $57.4848 for Norfolk Southern and $60.5248 for Union Pacific; 64% of initial share prices
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46646ESV5
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