By Devika Patel
Knoxville, Tenn., July 19 – JPMorgan Chase Financial Co. LLC priced $2 million of contingent coupon callable yield notes due Jan. 19, 2018 linked to the common stock of Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.6% if the stock closes at or above its trigger value, 80% of its initial level, on the observation date for that quarter.
The notes may be called at par on any contingent interest payment date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its trigger value, in which case investors will lose 1% for each 1% decline of the stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon callable yield notes
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| Underlying stock: | Bristol-Myers Squibb Co. (Symbol: BMY)
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| Amount: | $2 million
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| Maturity: | Jan. 19, 2018
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| Coupon: | 8.6% per year, payable quarterly if stock closes at or above trigger value on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above trigger value, par; otherwise, 1% loss for each 1% decline
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| Call option: | At par on any interest payment date
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| Initial share price: | $76.00
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| Trigger value: | $60.80, 80% of initial price
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 46646EPP1
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