By Angela McDaniels
Tacoma, Wash., Dec. 13 – JPMorgan Chase Financial Co. LLC priced $720,000 of autocallable contingent interest notes due Dec. 16, 2020 linked to the class A common stock of Roku Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 15.5% per year if the stock closes at or above the trigger value, 50% of its initial share price, on the review date for that month.
The notes will be automatically called at par if Roku stock closes at or above its initial share price on March 11, 2020, June 11, 2020 or Sept. 11, 2020.
If the notes have not been called, the payout at maturity will be par unless Roku stock finishes below the trigger value, in which case investors will lose 1% for every 1% that Roku stock finishes below its initial share price.
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 stock: | Roku Inc. (Symbol: ROKU)
|
| Amount: | $720,000
|
| Maturity: | Dec. 16, 2020
|
| Coupon: | 15.5% per year, payable monthly if stock closes at or above trigger value on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless Roku stock finishes below trigger value, in which case 1% loss for every 1% that stock finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if Roku stock closes at or above initial share price on March 11, 2020, June 11, 2020 or Sept. 11, 2020
|
| Initial share price: | $145.70
|
| Trigger value: | $72.85, or 50% of initial share price
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132HGL0
|
© 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.
