By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – JPMorgan Chase Financial Co. LLC priced $4.13 million of autocallable contingent interest notes due Jan. 3, 2024 linked to the least performing of the common stocks of CVS Health Corp., Citizens Financial Group, Inc. and D.R. Horton, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call review date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | CVS Health Corp., Citizens Financial Group, Inc. and D.R. Horton, Inc.
|
Amount: | $4,128,000
|
Maturity: | Jan. 3, 2024
|
Coupon: | 10% annualized, payable monthly if each stock closes at or above 60% coupon barrier on review date for that month
|
Price: | Par
|
Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly call review date after six months
|
Initial levels: | $68.08 for CVS, $35.11 for D.R. Horton and $70.40 for Citizens Financial
|
Trigger levels: | $40.848 for CVS, $21.066 for D.R. Horton and $42.24 for Citizens Financial; 60% of initial levels
|
Pricing date: | Dec. 28
|
Settlement date: | Dec. 31
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 3.5%
|
Cusip: | 48132PJ96
|
|
© 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.