By Susanna Moon
Chicago, Oct. 4 – JPMorgan Chase Financial Co. LLC priced $2.5 million of 8% callable yield notes due Oct. 5, 2018 linked to Microsoft Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
The notes will be callable at par on any interest payment date other than the final date.
The payout at maturity will be par unless the stock finishes below its % trigger level, 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable yield notes
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| Underlying stock: | Microsoft Corp. (Symbol: MSFT)
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| Amount: | $2.5 million
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| Maturity: | Oct. 5, 2018
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| Coupon: | 8%, payable quarterly
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| Price: | Par
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| Call option: | At par on any interest payment date other than the final date
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| Payout at maturity: | Par unless stock closes below trigger level, in which case full exposure to any losses
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| Initial level: | $58.03
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| Trigger level: | $46.424, 80% of initial level
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| Pricing date: | Sept. 28
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 46646EH39
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