By Angela McDaniels
Tacoma, Wash., Oct. 5 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Oct. 9, 2018 linked to the class A common stock of Facebook, Inc., 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 an annual rate of 9% if the stock closes at or above its trigger level, 75% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly review other than the first and final review dates.
The payout at maturity will be par unless the stock finishes below its trigger level, in which case investors will be exposed to the stock’s decline from its initial share price.
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. (Symbol: FB)
|
| Amount: | $1 million
|
| Maturity: | Oct. 9, 2018
|
| Coupon: | 9%, payable quarterly if stock closes at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if stock finishes at or above trigger level; otherwise, exposure to decline of stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial price on any quarterly review date other than first and final ones
|
| Initial share price: | $127.31, equal to closing share price on Sept. 26
|
| Trigger level: | $95.4825, 75% of initial share price
|
| Pricing date: | Oct. 3
|
| Settlement date: | Oct. 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.95%
|
| Cusip: | 46646ER61
|
© 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.
