By William Gullotti
Buffalo, N.Y., June 21 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due June 29, 2023 linked to the class A common stock of CME Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12% annualized, payable quarterly if the stock closes at or above its 69.97% trigger value on the corresponding review date. Coupon payments will automatically include any previously unpaid coupons.
The securities will be called automatically at par plus the coupon if the stock closes at or above its initial level on any quarterly review date.
If the stock finishes at or above its trigger value, the payout at maturity will be par plus all unpaid coupons. Otherwise, investors will lose 1% for every 1% decline from initial 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: | Autocallable contingent interest notes
|
| Underlying stock: | CME Group Inc. (Ticker: CME)
|
| Amount: | $1 million
|
| Maturity: | June 29, 2023
|
| Coupon: | 12% per annum, payable quarterly if the stock closes at or above its trigger level on the relevant review date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus all unpaid coupons; otherwise, investors will lose 1% for every 1% decline from initial level
|
| Call: | Automatically at par plus coupon if the stock closes at or above its initial level on any quarterly review date
|
| Initial level: | $202.99
|
| Trigger level: | $142.032103; 69.97% of initial level
|
| Strike date: | June 13
|
| Pricing date: | June 14
|
| Settlement date: | June 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133G5C3
|
|
|
© 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.
