By William Gullotti
Buffalo, N.Y., July 9 – JPMorgan Chase Financial Co. LLC priced $240,000 of autocallable contingent interest notes due Nov. 30, 2022 linked to the least performing of the Invesco Solar ETF and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each ETF closes at or above its interest barrier level, 55% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any monthly review date other than the first, second and final ones.
If the notes have not been called, the payout at maturity will be par unless either ETF closes below its 55% trigger value during the life of the notes and either ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing ETF finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETFs: | Invesco Solar ETF, Energy Select Sector SPDR Fund
|
| Amount: | $240,000
|
| Maturity: | Nov. 30, 2022
|
| Coupon: | 10% annualized, payable monthly if each ETF closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either ETF closes below its 55% trigger value during the life of the notes and either ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing ETF finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly review date other than the first, second and final dates
|
| Initial levels: | $77.45 for Solar, $51.61 for Energy
|
| Interest barrier: | $42.5975 for Solar, $28.3855 for Energy; 55% of initial values
|
| Trigger levels: | $42.5975 for Solar, $28.3855 for Energy; 55% of initial values
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.125%
|
| Cusip: | 48132UAZ6
|
|
|
|
|
© 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.
