JPMorgan plans contingent income callable securities on three indexes

By Devika Patel

Knoxville, Tenn., Aug. 15 – JPMorgan Chase Financial Co. LLC plans to price contingent income callable securities due Sept. 6, 2018 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 7.45% if each index closes at or above its downside threshold level, 65% of its initial index level, on the determination date for that quarter. The exact contingent coupon rate will be set at pricing.

The notes are callable at par on any quarterly determination date other than the final one.

If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. If the final level of any index is less than its downside threshold level, investors will lose 1% for each 1% decline of the least-performing index.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46646EVA7) are expected to price on Aug. 31 and settle three business days after pricing.

© 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.