By Toni Weeks
San Diego, Sept. 12 - JPMorgan Chase & Co. priced $1.5 million of annual income notes contingent on the performance of the JPMorgan ETF Efficiente 5 index, according to a 424B2 filing with the Securities and Exchange Commission.
The maturity date is Sept. 17, 2019.
Interest is payable annually at a rate equal to the index return multiplied by the index factor, subject to a minimum rate of 0.4%.
The index factor is one divided by the number of interest determination dates that have occurred to date including the current interest determination date. The annual interest determination dates are in September of each year.
The payout at maturity will be par plus the last coupon payment.
The index tracks the excess return of a portfolio of 12 exchange-traded funds, with dividends reinvested, and the JPMorgan Cash Index USD 3 Month above the return of the cash index less a fee of 0.5% per year that accrues daily.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Annual income notes
|
| Underlying index: | JPMorgan ETF Efficiente 5
|
| Amount: | $1.5 million
|
| Maturity: | Sept. 17, 2019
|
| Coupon: | Rate equal to index return multiplied by index factor, subject to minimum rate of 0.4%; index factor equals one divided by number of interest determination dates that have occurred to date including current interest determination date; payable annually beginning Sept. 13, 2013
|
| Price: | Par
|
| Payout at maturity: | Par plus last coupon payment
|
| Initial index level: | 116.77
|
| Pricing date: | Sept. 10
|
| Settlement date: | Sept. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 6%, including 3.5% for selling concessions
|
| Cusip: | 48125V6B1
|
© 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.
