By Devika Patel
Knoxville, Tenn., Dec. 1 – JPMorgan Chase Financial Co. LLC priced $2.48 million of autocallable contingent interest notes due Nov. 28, 2017 linked to the least performing of the class A common stocks of Alphabet Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if each stock closes at or above its barrier level, 75% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each 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 either stock finishes below its 75% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing stock from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Alphabet Inc. (Symbol: GOOG), Facebook, Inc. (Symbol: FB)
|
| Amount: | $2.48 million
|
| Maturity: | Nov. 28, 2017
|
| Coupon: | 9.5% annualized, payable quarterly if each underlying stock closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either stock finishes below barrier level, in which case 1% loss for each 1% decline of worse performing stock from initial level
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than the final date
|
| Initial levels: | $785.00 for Alphabet and $121.47 for Facebook
|
| Barrier levels: | $588.75 for Alphabet and $91.1025 for Facebook; 75% of initial levels
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 46646E6J6
|
|
|
© 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.
