By Wendy Van Sickle
Columbus, Ohio, May 11 – JPMorgan Chase Financial Co. LLC priced $1.92 million trigger autocallable contingent yield notes due May 14, 2020 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 8.3% if the ETF closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par plus the coupon if the ETF closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless the ETF finishes below the downside threshold, 80% of its initial level, in which case investors will lose 1% for every 1% decline from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying fund: | SPDR S&P 500 ETF Trust
|
Amount: | $1,924,000
|
Maturity: | May 14, 2020
|
Coupon: | 8.3%, payable quarterly if shares close at or above coupon barrier on quarterly observation date
|
Price: | Par of $10
|
Call: | At par if shares close at or above initial price on any quarterly observation date
|
Payout at maturity: | Par plus final coupon unless shares finish below downside threshold, in which case 1% loss for every 1% decline
|
Initial price: | $269.50
|
Coupon barrier: | $215.60; 80% of initial level
|
Downside threshold: | $215.60; 80% of initial level
|
Pricing date: | May 9
|
Settlement date: | May 14
|
Underwriters: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
|
Fees: | 0%
|
Cusip: | 48129N831
|
|
© 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.