By Susanna Moon
Chicago, Sept. 20 – JPMorgan Chase Financial Co. LLC priced $1.14 million of autocallable contingent interest notes due Oct. 4, 2017 linked to Restaurant Brands International Inc. shares, 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 10.8% if the stock closes at or above the trigger level, 80% of the initial share price, on the 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 share price on any review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless the stock finishes below the 80% trigger level, in which case investors will be fully exposed to any losses.
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: | Restaurant Brands International Inc. (Ticker: QSR)
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| Amount: | $1,143,000
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| Maturity: | Oct. 4, 2017
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| Coupon: | 10.8%, payable quarterly if stock closes at or above trigger level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final contingent interest payment unless stock ends below trigger level, in which case full exposure to any losses
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| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly review date other than final date
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| Initial share price: | $44.89
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| Trigger level: | $35.912, 80% of initial share price
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 46646EC26
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