By Tali Rackner
Minneapolis, July 5 – JPMorgan Chase Financial Co. LLC priced $1 million of 9% yield notes due Oct. 4, 2017 linked to the common stock of Inphi Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The payout at maturity will be par unless Inphi shares close below the $34.37 strike value and the shares closes below the 57.93% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Yield notes
|
| Underlying stock: | Inphi Corp. (Symbol: IPHI)
|
| Amount: | $1 million
|
| Maturity: | Oct. 4, 2017
|
| Coupon: | 9%, payable monthly; equivalent to a rate of 2.25% over the term of the notes
|
| Price: | Par
|
| Payout at maturity: | Par unless Inphi stock finishes below its strike value and shares close below trigger level on any day during the life of the notes, in which case full exposure to any losses
|
| Strike value: | $34.37
|
| Trigger value: | $19.91; 57.93% of the strike value
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.125%
|
| Cusip: | 46647MMA8
|
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