By Sarah Lizee
Olympia, Wash., July 14 – JPMorgan Chase Financial Co. LLC priced $335,000 of autocallable contingent interest notes due July 28, 2021 linked to Facebook, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.6% if the stock closes at or above its 75% coupon barrier on the review date for that quarter, in which case the notes will also pay any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.
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: | Facebook, Inc.
|
| Amount: | $335,000
|
| Maturity: | July 28, 2021
|
| Coupon: | 13.6% annualized, payable quarterly if stock closes at or above its coupon barrier on review date for that quarter plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review date other than the final date
|
| Initial level: | $245.07
|
| Coupon barrier/trigger level: | $183.8025, 75% of initial level
|
| Pricing date: | July 10
|
| Settlement date: | July 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132MTE1
|
|
|
© 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.
