By Susanna Moon
Chicago, May 8 – JPMorgan Chase Financial Co. LLC priced $13.84 million of 0% trigger autocallable contingent yield notes due April 29, 2020 linked to the common stock of Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above its coupon barrier, 71% of its initial level, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 71% trigger level, in which case investors will be fully exposure to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Nike, Inc. (Symbol: MS)
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| Amount: | $13,836,000
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| Maturity: | April 29, 2020
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| Contingent coupon: | 8%, payable quarterly if stock closes at or above 71% coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if stock closes at or above its initial level on any quarterly observation date beginning Oct. 26, 2017
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| Payout at maturity: | Par unless stock finishes below 71% threshold, in which case 1% loss for each 1% decline
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| Initial level: | $44.37
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| Trigger level: | $31.50, 71% of initial level
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| Pricing date: | April 26
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| Settlement date: | April 28
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129F283
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