By William Gullotti
Buffalo, N.Y., Dec. 9 – JPMorgan Chase Financial Co. LLC priced $3.14 million of autocallable contingent interest notes due Dec. 6, 2024 linked to the U.S. Global Jets ETF, 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 monthly coupon of 10.55% per annum if the ETF closes at or above its 70% coupon barrier level on the determination date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial share price on any monthly call observation date other than the first and final review dates.
The payout at maturity will be par plus the final coupon unless the ETF finishes below 70% of its initial share price, in which case investors will be exposed to the ETF’s decline from its initial share price.
The agent is J.P. Morgan Securities LLC.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying ETF: | U.S. Global Jets ETF
|
Amount: | $3.14 million
|
Maturity: | Dec. 6, 2024
|
Contingent coupon: | 10.55% annualized, payable monthly if the ETF closes at or above the coupon barrier level on the determination date for that period
|
Price: | Par
|
Payout at maturity: | Par plus final coupon unless the ETF finishes below 70% of its initial share price, in which case investors will be exposed to the ETF’s decline from its initial share price
|
Call: | Automatically at par plus coupon if the ETF closes at or above initial share price on any monthly call observation date other than the first and final ones
|
Initial share price: | $20.12
|
Coupon barrier: | $14.084; 70% of initial share price
|
Buffer level: | $14.084; 70% of initial share price
|
Pricing date: | Dec. 3
|
Settlement date: | Dec. 8
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.5%
|
Cusip: | 48132Y4L6
|
|
© 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.