By Tali Rackner
Norfolk, Va., July 13 – JPMorgan Chase Financial Co. LLC priced $1 million of 9% yield notes due Oct. 11, 2016 linked to the common stock of Tesoro Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly, for an interest rate of 2.25% over the term of the notes.
The payout at maturity will be par unless Tesoro finishes below its strike value and closes below its 67.99% trigger value on any day during the life of the notes, in which case investors will be fully exposed to the 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: | Yield notes
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Underlying stock: | Tesoro Corp.
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Amount: | $1 million
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Maturity: | Oct. 11, 2016
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Coupon: | 9% annually, payable monthly, for an interest rate of 2.25% over the term of the notes
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Price: | Par
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Payout at maturity: | Par unless Tesoro finishes below initial level and closes below trigger value on any day during the life of the notes, in which case exposure to losses
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Strike value: | $70.85
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Trigger value: | $48.17, 67.99% of strike value
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Pricing date: | July 7
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Settlement date: | July 11
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 46646ENU2
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