By Taylor Fox
New York, March 22 – JPMorgan Chase Financial Co. LLC priced $226,000 of autocallable contingent interest notes due March 13, 2024 linked to the least performing of the common stocks of Autodesk, Inc., Intuit Inc. and the capital stock of International Business Machines Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 11.15% if each stock closes above its 60% trigger level on the relevant review date.
If the stocks close above their initial levels on any quarterly review date, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment due if the final levels of all stocks are above the final barriers, 60% of the initial price.
Otherwise, investor will be full exposed to the decline of the lesser performing stock.
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: | Autodesk, Inc., Intuit Inc. and the capital stock of International Business Machines Corp.
|
| Amount: | $226,000
|
| Maturity: | March 13, 2024
|
| Coupon: | 11.15% annual rate, payable quarterly if each stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if all stocks finish above final barrier; otherwise, full exposure to losses of least performing stock
|
| Call: | At par plus interest payment if stocks finish above initial level on quarterly review date
|
| Initial prices: | $253.10 for Autodesk, $124.81 for IBM and $370.42 for Intuit
|
| Trigger levels: | $151.86 for Autodesk, $74.886 for IBM and $222.252 for Intuit, 60% of initial price
|
| Final barrier prices: | $151.86 for Autodesk, $74.886 for IBM and $222.252 for Intuit, 60% of initial price
|
| Pricing date: | March 9
|
| Settlement date: | March 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48132TDW3
|
|
|
© 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.
