By Susanna Moon
Chicago, July 25 – JPMorgan Chase Financial Co. LLC priced $785,000 of autocallable contingent interest notes due July 26, 2017 linked to Netflix, 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 15.1% if the stock closes at or above its coupon barrier level, 70% of its initial 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 price on any review date other than the first and final dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 70% trigger level, in which case investors will receive a number of Netflix shares equal to $1,000 principal amount divided by the initial share price.
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: | Callable contingent interest notes
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| Underlying stock: | Netflix, Inc. (symbol: NFLX)
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| Amount: | $785,000
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| Maturity: | July 26, 2017
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| Coupon: | 15.1% annually, payable quarterly if Netflix closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock ends below trigger level, in which case Netflix shares
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| Call: | At par plus contingent coupon if the shares close at or above the initial price on any review date other than first and final dates
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| Strike level: | $87.91, closing price on July 20
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| Trigger level: | $61.537, 70% of strike level
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 46646EQF2
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