By Wendy Van Sickle
Columbus, Ohio, May 16 – JPMorgan Chase Financial Co. LLC priced $725,000 of autocallable contingent interest notes due May 14, 2020 linked to First Solar, 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 12.35% if the stock closes at or above the 60% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the final date.
The payout at maturity will be par plus unless the stock finishes below its 60% 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 underwriter.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying stock: | First Solar, Inc.
|
Amount: | $725,000
|
Maturity: | May 14, 2020
|
Coupon: | 12.35%, payable quarterly if stock closes at or above coupon barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger level; otherwise, par plus stock return
|
Call: | At par plus contingent coupon if shares close at or above initial price on quarterly review date other than final date
|
Initial share price: | $72.78
|
Trigger price: | $43.668, 60% of initial price
|
Pricing date: | May 11
|
Settlement date: | May 16
|
Underwriters: | J.P. Morgan Securities LLC
|
Fees: | 2%
|
Cusip: | 48129MTJ5
|
|
© 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.