JPMorgan plans trigger income notes tied to 10-year euro ICE swap rate

By Angela McDaniels

Tacoma, Wash., April 10 – JPMorgan Chase Financial Co. LLC plans to price trigger income securities due Oct. 18, 2017 linked to the 10-year euro ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a fixed coupon of 0.66667% per quarter, which corresponds to 4% over the term of the notes and a rate of 8% per year.

If the final reference rate is greater than or equal to the downside threshold level, 55% of the initial reference rate, the payout at maturity will be par. Otherwise, the payout will be par multiplied by the quotient of the final reference rate divided by the initial reference rate.

J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.

The notes will price April 11.

The Cusip number is 46646Q5C5.

© 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.