By Wendy Van Sickle
Columbus, Ohio, May 3 – JPMorgan Chase Financial Co. LLC priced $2.69 million of autocallable contingent interest notes due May 1, 2020 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2,694,000
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Maturity: | May 1, 2020
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Coupon: | 7% per year, payable quarter if each index closes at or above 70% coupon barrier on determination date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index falls below 70% trigger, in which case full exposure to any losses of worse performing index
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Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second, third and final dates
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Initial levels: | 1,400.428 for Russell and 2,384.20 for S&P
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Coupon barriers/triggers: | 980.2996 for Russell and 1,668.94 for S&P; 70% of initial levels
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Pricing date: | April 28
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Settlement date: | May 3
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 0.52006%
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Cusip: | 46646Q3V5
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