A story in the July 20 edition of the Prospect News Structured Products Daily incorrectly reported the issue amount and agent information for JPMorgan Chase Financial Co. LLC’s autocallable yield notes due Oct. 23, 2018 linked to the least performing of the PowerShares QQQ Trust, series 1, the Russell 2000 index and the Euro Stoxx 50 index. A revised version of the story follows:
By Wendy Van Sickle
Columbus, Ohio, July 21 – JPMorgan Chase Financial Co. LLC priced $4.53 million of 6% autocallable yield notes due Oct. 23, 2018 linked to the least performing of the PowerShares QQQ Trust, series 1, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par plus the coupon if each asset closes at or above its initial level on any quarterly review date other than the final determination date.
The payout at maturity will be par plus the coupon unless any asset finishes below its 66% trigger, in which case investors will lose 1% for each 1% decline of the worst performing asset.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying assets: | PowerShares QQQ Trust, series 1, Russell 2000 and Euro Stoxx 50
|
| Amount: | $4,533,000
|
| Maturity: | Oct. 23, 2018
|
| Coupon: | 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if each asset finishes at or above 66% trigger; otherwise, 1% loss for each 1% decline of worst performing asset
|
| Call: | At par plus coupon if each asset closes at or above initial level on any quarterly determination date other than the final determination date
|
| Initial index levels: | $143.14 for PowerShares QQQ, 1,427.614 for Russell, 3,478.68 for Stoxx
|
| Triggers: | $94.4724 for PowerShares QQQ, 942.22524 for Russell and 2,295.9288 for Stoxx; 66% of initial levels
|
| Pricing date: | July 18
|
| Settlement date: | July 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.975%
|
| Cusip: | 46647MTE3
|
|
|
© 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.
