Chicago, Nov. 17 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent interest notes due Sept. 8, 2023 linked to the lesser performing of the Energy Select Sector SPDR Fund and Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.7%, paid monthly, if each underlying fund closes at or above its 65% trigger level on the related monthly observation date.
The securities will be called automatically at par starting June 3 and on any subsequent monthly review date if both funds close above their initial levels.
At maturity the payout will be par unless the worst performing ETF closes below its 65% trigger level in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Energy Select Sector SPDR Fund and Financial Select Sector SPDR Fund
|
| Amount: | $1.2 million
|
| Maturity: | Sept. 8, 2023
|
| Coupon: | 8.7% annual rate, paid monthly, if each underlying fund closes at or above its 65% trigger level on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
|
| Call: | Automatically at par starting June 3 and on any subsequent monthly review date if both funds close above their initial levels
|
| Initial levels: | $73.12 for energy, $37.94 for financial
|
| Trigger levels: | $47.528 for energy, $24.661 for financial, 65% of initial levels
|
| Pricing date: | March 3
|
| Settlement date: | March 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48133DSD3
|
|
|
© 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.
