By Marisa Wong
Morgantown, W.Va., May 22 – JPMorgan Chase Financial Co. LLC priced $209,000 of autocallable contingent interest notes due Aug .16, 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.
If the stock closes at or above the trigger price – 79% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at an annualized rate of 7%.
If the shares close at or above the initial price on any quarterly review date other than the first and final dates, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par unless the stock closes below the 79% trigger price on any day during the life of the notes and finishes below the initial price, in which case investors will be fully exposed to the share price decline.
J.P. Morgan Securities LLC is the underwriter.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying stock: | Facebook, Inc. (Symbol: FB)
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Amount: | $209,000
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Maturity: | Aug. 16, 2018
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Coupon: | 7%, payable each quarter that stock closes at or above trigger price on review date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless stock closes below trigger price during life of notes and finishes below initial price, in which case full exposure to share price decline
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Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly review date other than first and final dates
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Initial level: | $150.33
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Trigger price: | $118.7607, 79% of initial price
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Pricing date: | May 12
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Settlement date: | May 17
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 46646QRM9
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