By Wendy Van Sickle
Columbus, Ohio, July 1 – JPMorgan Chase Financial Co. LLC priced $1.73 million of autocallable contingent interest notes due May 24, 2024 linked to the least performing of the shares of Broadcom Inc., FedEx Corp. and Raytheon Technologies Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.75% if each stock closes at or above its 50% coupon barrier on the review date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly autocall review date after six months.
The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 assets: | Broadcom Inc., FedEx Corp. and Raytheon Technologies Corp.
|
| Amount: | $1.73 million
|
| Maturity: | May 24, 2024
|
| Coupon: | 5.75% annualized, payable quarterly if each stock closes at or above 50% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock closes below 50% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above initial level on quarterly autocall review date after six months
|
| Initial levels: | $451.24 for Broadcom, $309.60 for FedEx, $85.81 for Raytheon
|
| Coupon barriers/trigger levels: | $225.62 for Broadcom, $154.80 for FedEx, $42.905 for Raytheon; 50% of initial levels
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48132UCL5
|
|
|
© 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.
