By Susanna Moon
Chicago, April 2 – JPMorgan Chase Financial Co. LLC priced $473,000 of autocallable contingent interest notes due March 21, 2019 linked to the least performing of the American Depositary Shares of Baidu, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if the stock closes at or above its 75% 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 final date.
The payout at maturity will be par unless the stock finishes below its 75% 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 stock: | Baidu, Inc. (Symbol: BIDU)
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Amount: | $473,000
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Maturity: | March 21, 2019
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Coupon: | 9.75% annualized, payable quarterly if stock closes at or above 75% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless stock closes below 75% trigger, in which case 1% loss for each 1% decline
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Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review date other than final date
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Initial level: | $262.39
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Trigger level: | $196.7925, 75% of initial level
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Pricing date: | March 16
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Settlement date: | March 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48129MCG9
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