By Kiku Steinfeld
Chicago, Sept. 21 – JPMorgan Chase Financial Co. LLC priced $6.32 million of autocallable contingent interest and contingent leveraged notes due July 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
For the first year, the notes will pay a contingent monthly coupon at an annual rate of 2.28% if the index has not closed below the coupon barrier, 90% of the initial level, on any day during the life of the notes. No coupon will be payable after the first year or if the index has ever closed below the coupon barrier during the life of the notes.
A trigger event will occur if, on any day during the first year, the closing level of the index is less than the trigger value. If a trigger event has not occurred, the notes will be called at par plus the final coupon on June 30, 2022.
If the notes are not automatically called, the payment at maturity will reflect (a) the sum of the return of the index over the term of the notes plus the buffer amount of 10% times (b) the leverage factor of 1.11111.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest and contingent leveraged notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,323,000
|
| Maturity: | July 3, 2025
|
| Coupon: | 2.28%, payable monthly unless index closes below trigger value on any trading day, in which case no coupon will be paid that month or any subsequent month
|
| Price: | Par
|
| Payout at maturity: | (a) the sum of the return of the index over the term of the notes plus the buffer amount of 10% times (b) the leverage factor of 1.11111
|
| Call: | Automatically at par plus contingent coupon on June 30, 2022 if index has never closed below 90% of initial level on any day during life of notes
|
| Initial index level: | 4,297.50
|
| Trigger value: | 3,867.75, 90% of initial level
|
| Pricing date: | June 30
|
| Settlement date: | July 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132UQQ9
|
|
|
© 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.
