By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – JPMorgan Chase Financial Co. LLC priced $2.65 million of contingent coupon callable yield notes due July 31, 2018 linked to the FTSE 100 index and the Russell 2000 index, 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 the rate of 6.9% per year if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse-performing index.
The notes are callable in whole but not in part at par on any interest payment date other than the first, second and final dates.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | FTSE 100, Russell 2000
|
| Amount: | $2.65 million
|
| Maturity: | July 31, 2018
|
| Coupon: | 6.9%, payable quarterly if each index closes at or above barrier level on observation date for quarter
|
| Price: | Par
|
| Payout at maturity: | If either index finishes below trigger level, par plus return of worse-performing index; otherwise, par
|
| Call option: | In whole but not in part at par plus coupon on any interest payment date other than first, second and final dates
|
| Initial levels: | 7,150.34 for FTSE and 1,369.210 for Russell
|
| Barrier levels: | 5,005.238 for FTSE and 958.447 for Russell; 70% of initial levels
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 46646QVW2
|
|
|
© 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.
