By Wendy Van Sickle
Columbus, Ohio, June 12 – JPMorgan Chase Financial Co. LLC priced $1.28 million of 0% step-up review notes due June 6, 2023 linked to the iShares Nasdaq Biotechnology ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 11.5% if the ETF closes at or above its call level on any annual review date.
The call level will be equal to the initial level on the first review date and will step up by 5% each year.
If the notes are not called, the payout at maturity will be par unless the ETF finishes below its 65% trigger level, in which case investors will be fully exposed to any losses.
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: | Step-up review notes
|
| Underlying ETF: | iShares Nasdaq Biotechnology ETF
|
| Amount: | $1,275,000
|
| Maturity: | June 6, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below trigger, in which case 1% loss for each 1% decline
|
| Call: | At par plus 11.5% annualized if ETF closes at or above call level on an annual review date; call level will be equal to the initial level on the first review date and will step up by 5% each year
|
| Initial level: | $109.84
|
| Trigger level: | $71.396, 65% of initial level
|
| Pricing date: | June 1
|
| Settlement date: | June 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48129MWG7
|
|
|
© 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.
