By Susanna Moon
Chicago, Dec. 20 – JPMorgan Chase Financial Co. LLC priced $3,127,000 of autocallable contingent interest notes due March 21, 2018 linked to Amazon.com, Inc. stock, 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 7.5% if Amazon shares close at or above the barrier level, 67.5% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if Amazon shares close at or above its initial level on any review date other than the first and final dates.
If the stock finishes at or above its initial level and never closes below the 67.5% barrier level during the life of the notes, the payout at maturity will be par plus the contingent coupon.
Otherwise, 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: | Amazon.com, Inc. (Nasdaq: AMZN)
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| Amount: | $3,127,000
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| Maturity: | March 21, 2018
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| Coupon: | 8.5%, payable quarterly if stock closes at or above trigger price on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless the stock falls and ever dips below barrier level, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if Amazon shares close at or above initial share price on any quarterly review date other than the first and final dates
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| Initial share price: | $757.77
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| Trigger price: | $511.4948, 67.5% of initial level
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646QDN2
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