By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – JPMorgan Chase Financial Co. LLC priced $2.31 million of autocallable contingent interest notes due Jan. 29, 2020 linked to the least performing of the common stock of BlackRock, Inc., the common stock of Bank of New York Mellon Corp., the common units representing limited partnership interests of Blackstone Group LP and the common stock of State Street Corp., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each stock closes at or above its interest barrier level, 50% of its initial level, on the review date for that month.
Beginning on July 24, 2017, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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 stocks: | BlackRock, Inc., Bank of New York Mellon Corp., Blackstone Group LP and State Street Corp.
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| Amount: | $2.31 million
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| Maturity: | Jan. 29, 2020
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| Coupon: | 10% annualized, payable each month that each stock closes at or above coupon barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below its trigger level, in which case 1% loss for each 1% decline of the worst performing stock
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| Call: | Beginning July 24, 2017, at par plus contingent coupon if each stock closes at or above initial share price on any quarterly review date other than the final date
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| Initial prices: | $381.38 for BlackRock, $44.63 for Bank of New York Mellon, $30.31 for Blackstone and $80.52 for State Street
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| Barrier/trigger levels: | $109.69 for BlackRock, $22.315 for Bank of New York Mellon, $15.155 for Blackstone and $40.26 for State Street; 50% of initial price
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.379%
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| Cusip: | 46646QKC8
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