By Susanna Moon
Chicago, Oct. 13 - JPMorgan Chase & Co. priced $4.85 million of callable range accrual notes due Oct. 14, 2025 linked to six-month Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be a rate for each day that six-month Libor is 6.5% or less and the closing index level is at least 790. The rate will be 6.1% for years one through five, 7.1% per year for years six through 10 and 8.1% per year for years 11 through 15. Interest is payable quarterly
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Oct. 14, 2014.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable range accrual notes
|
| Amount: | $4.85 million
|
| Maturity: | Oct. 14, 2025
|
| Coupon: | For each day that six-month Libor is 6.5% or less and the S&P 500 closes at 790 or more, 6.1% for five years, 7.1% for next five years and 8.1% thereafter; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after four years
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.273%, with 2.117% for selling concessions
|
| Cusip: | 48124AM61
|
© 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.
