By Wendy Van Sickle
Columbus, Ohio, Dec. 21 – JPMorgan Chase Financial Co. LLC priced $13 million of trigger autocallable contingent yield notes due Dec. 7, 2026 linked to the MSCI Emerging Markets index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 10.6% per year if each index closes at or above the coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par of $10 plus the coupon if each index closes at or above the initial level on any annual call observation date.
If the notes are not called and the final level of each is greater than or equal to the coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above its downside threshold level, 70% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | MSCI Emerging Markets index, Euro Stoxx 50 index
|
| Amount: | $13 million
|
| Maturity: | Dec. 7, 2026
|
| Contingent coupon: | 10.6% annual rate, payable quarterly if each index closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above coupon barrier; if the worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performer from initial price
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any annual call observation date
|
| Initial price: | 1,236.19 for Emerging Markets, 4,108.02 for Stoxx
|
| Coupon barrier: | 865.33 for Emerging Markets, 2,875.61 for Stoxx; 70% of initial price
|
| Threshold level | 865.33 for Emerging Markets, 2,875.61 for Stoxx; 70% of initial price
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 7
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 0%
|
| Cusip: | 48133A775
|
|
|
© 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.
