By Marisa Wong
Morgantown, W.Va., Oct. 10 – JPMorgan Chase Financial Co. LLC priced $4,195,000 of autocallable contingent interest notes due Oct. 17, 2018 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above its 79% coupon barrier on a quarterly review date, the notes will pay a contingent coupon that quarter at an annual rate of 10%, plus any previously unpaid contingent coupons for prior review dates.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 79% trigger level, in which case investors will lose 1% for each 1% decline.
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: | Bank of America Corp. (Symbol: BAC)
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| Amount: | $4,195,000
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| Maturity: | Oct. 17, 2018
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| Coupon: | 10% annualized, payable each quarter that stock closes at or above coupon barrier on review date for that quarter; if the contingent coupon is not paid on any quarter, that unpaid coupon will be paid on a later coupon payment date if the stock closes at or above the coupon barrier on the review date for that later payment date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock finishes below trigger price, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any review date other than final date
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| Initial price: | $25.45
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| Coupon barrier: | $20.1055, 79% of initial price
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| Trigger price: | $20.1055, 79% of initial price
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| Final price: | Average of closing share prices for five averaging dates ending Oct. 12, 2018
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129HCU9
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