By Susanna Moon
Chicago, March 23 – JPMorgan Chase Financial Co. LLC priced $2.35 million of autocallable contingent interest notes due April 4, 2018 linked to Williams Cos., Inc. 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 13.85% if Williams stock closes at or above the 75% coupon barrier on a review date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the final date.
The payout at maturity will be par plus the contingent coupon unless Williams shares finish below its 75% trigger level, in which case investors will be fully exposed to any losses.
The notes will be guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| 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: | Williams Cos., Inc. (Symbol: WMB)
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| Amount: | $2,345,000
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| Maturity: | April 4, 2018
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| Coupon: | 13.85%, payable quarterly if stock closes at or above 75% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless Williams shares fall below 75% trigger, in which case par plus stock return
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| Call: | At par plus contingent coupon if Williams shares close at or above initial price on a quarterly review date other than final date
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| Initial share price: | $28.57
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| Trigger price: | $21.4275, 75% of initial price
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| Pricing date: | March 17
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| Settlement date: | March 22
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646QW84
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