By Kiku Steinfeld
Chicago, May 28 – JPMorgan Chase Financial Co. LLC priced $591,000 of autocallable contingent interest notes due May 18, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.5% per year if the index closes at or above its coupon barrier, 80% of its initial level, on the associated review date, in which case any previously unpaid coupon will also be paid.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly autocall review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless the index finishes below its trigger value, 80% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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 index: | S&P 500 index
|
Amount: | $591,000
|
Maturity: | May 18, 2022
|
Coupon: | 6.5% per year, payable quarterly if the index closes at or above coupon barrier on review date for that quarter, in which case any previously unpaid coupon will also be paid
|
Price: | Par
|
Payout at maturity: | Par unless the index finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
Call: | Automatically at par plus contingent coupon if the index closes at or above initial level on any quarterly autocall review date other than final one
|
Initial level: | 4,181.17
|
Coupon barrier | 3,344.936, or 80% of initial levels
|
Trigger value: | 3,344.936, or 80% of initial levels
|
Pricing date: | April 30
|
Settlement date: | May 5
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 0.45072%
|
Cusip: | 48132TXP6
|
|
© 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.