By Taylor Fox
New York, Feb. 1 – JPMorgan Chase Financial Co. LLC priced $4.01 million of autocallable contingent interest notes due Jan. 4, 2024 linked to the lesser performing of the common stocks of American Express Co. and Discover Financial Services, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 9.75% if each stock closes above its 60% trigger level on the relevant review date.
If the stocks close above their initial levels on any quarterly review date after six months, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment due if the final levels of both stocks are above the final barriers, 60% of the initial price.
Otherwise, investor will be full exposed to the decline of the lesser performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | American Express Co. and Discover Financial Services
|
| Amount: | $4,006,875
|
| Maturity: | Jan. 4, 2024
|
| Coupon: | 9.75% annual rate, payable quarterly if each stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if both stocks finish above final barrier; otherwise, full exposure to losses of lesser performing stock
|
| Call: | At par plus interest payment if stocks finish above initial level on quarterly review date after six months
|
| Initial prices: | $118.14 for American Express and $88.02 for Discover
|
| Trigger levels: | $70.884 for American Express and $52.812 for Discover, 60% of initial levels
|
| Final barrier prices: | $70.884 for American Express and $52.812 for Discover, 60% of initial levels
|
| Pricing date: | Dec. 29
|
| Settlement date: | Dec. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48132PZ56
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
