By Wendy Van Sickle
Columbus, Ohio, Aug. 23 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Aug. 23, 2021 linked to the least performing of the Russell 2000 index, the PowerShares QQQ Trust, series 1 and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each underlying index or fund closes at or above its 70% coupon barrier on review date for that month.
The notes will be called at par plus the contingent coupon if each underlying component closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par unless any underlying component finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Russell 2000 index, PowerShares QQQ Trust, series 1 and iShares MSCI Emerging Markets ETF
|
| Amount: | $1 million
|
| Maturity: | Aug. 23, 2021
|
| Coupon: | 7.5% annualized, payable monthly if each underlying component closes at or above 70% coupon barrier on review date that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any component finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index or fund
|
| Call: | At par plus contingent coupon if each component closes at or above initial level on any quarterly review date after six months
|
| Initial levels: | 1,357.793 for Russell, $141.23 for PowerShares QQQ and $43.67 for fund
|
| Coupon barriers: | 950.4551 for Russell, $98.861 for PowerShares QQQ and $30.569 for fund; 70% of initial levels
|
| Trigger levels: | 814.6758 for Russell, $84.738 for PowerShares QQQ and $26.202 for fund; 60% of initial levels
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.15%
|
| Cusip: | 46647MR96
|
|
|
© 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.
