JPMorgan plans one-year callable contingent interest notes on Citigroup

By Susanna Moon

Chicago, June 22 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due July 12, 2017 linked to Citigroup Inc. shares, 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 quarterly coupon at an annual rate of 11.55% if Citigroup shares close at or above the coupon barrier level, 75% of the initial share price, on the review date for that quarter.

The notes will be called at par plus the contingent coupon if Citigroup shares close at or above its initial level on any review date other than the final date.

The payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case the payout will be a number of Citigroup shares equal to $1,000 divided by the initial share price.

J.P. Morgan Securities LLC is the agent.

The notes will price on June 24 and settle on June 29.

The Cusip number is 46646EJN3.

© 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.