By Marisa Wong
Morgantown, W.Va., June 19 – JPMorgan Chase Financial Co. LLC priced $4.76 million of 0% bearish barrier early redeemable market-linked notes with daily barrier observation due Aug. 14, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index closes below the lower barrier, 75% of the initial index level, on any day during the life of the notes, the notes will be automatically redeemed at par plus a conditional return of 1%.
If the notes are not automatically redeemed and the index return is greater than or equal to zero, the payout at maturity will be par plus 1%.
If the notes are not called and the index return is less than zero, the payout will be par plus the absolute value of the index return. In this case, the payout will be capped at par plus 25%.
The agent is J.P. Morgan Securities LLC. UBS Financial Services Inc. is acting as selling agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Bearish barrier early redeemable market-linked notes with daily barrier observation
|
Underlying index: | S&P 500
|
Amount: | $4,758,000
|
Maturity: | Aug. 14, 2020
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index return is greater than or equal to zero, par plus 1%; if index return is less than zero, par plus absolute value of index return, capped at par plus 25%
|
Call: | Automatically at par plus 1% if index closes below lower barrier on any day during life of notes
|
Initial level: | 2,802.39
|
Lower barrier: | 2,101.79, initial level minus 25% of initial level
|
Pricing date: | May 28
|
Settlement date: | May 31
|
Agent: | J.P. Morgan Securities LLC with UBS Financial Services Inc. as selling agent
|
Fees: | None
|
Cusip: | 48130UQW8
|
|
© 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.