By Susanna Moon
Chicago, March 21 – JPMorgan Chase Financial Co. LLC priced $705,000 of autocallable contingent interest notes due March 17, 2020 linked to General Motors Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.2% if the stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying assets: | General Motors Co. (Symbol: GM)
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Amount: | $705,000
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Maturity: | March 17, 2020
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Coupon: | 9.2% annualized, payable quarterly if stock closes at or above 70% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless stock finishes below trigger, in which case 1% loss for each 1% decline
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Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than first and final dates
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Initial level: | $37.83
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Trigger level: | $26.481, 70% of initial level
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Pricing date: | March 12
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Settlement date: | March 15
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.35%
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Cusip: | 48129MDL7
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