By William Gullotti
Buffalo, N.Y., May 7 – JPMorgan Chase Financial Co. LLC priced $2.5 million of callable contingent coupon notes due Nov. 3, 2026 linked to the shares of VanEck Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if the ETF closes at or above its 85% coupon barrier on every trading day during the observation period. Previously unpaid coupons will be automatically included whenever a coupon is paid.
The notes may be called at par plus any coupon due on any monthly review date after six months.
If the notes have not been called and the final share price is greater than or equal to the 73% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% that the ETF declines below its trigger level.
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: | Callable contingent coupon notes
|
| Underlying fund: | VanEck Junior Gold Miners ETF
|
| Amount: | $2.5 million
|
| Maturity: | Nov. 3, 2026
|
| Coupon: | 12% per year, payable monthly, if ETF closes at or above its coupon barrier on every trading day during the observation period; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless shares finish below trigger price, in which case investors will lose 1% for each 1% decline beyond 27%
|
| Call option: | At par plus any coupon due on any monthly review date after six months
|
| Initial share price: | $42.67
|
| Coupon barrier: | $36.2695; 85% of initial share price
|
| Trigger price: | $31.1491; 73% of initial share price
|
| Strike date: | April 29
|
| Pricing date: | May 1
|
| Settlement date: | May 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48134XH99
|
|
|
© 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.
