By Angela McDaniels
Tacoma, Wash., Aug. 6 – JPMorgan Chase Financial Co. LLC priced $575,000 of autocallable contingent interest notes due Aug. 19, 2020 linked to the common stock of Netflix Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Netflix stock closes at or above the trigger value, 63.1% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 10% per year plus any previously unpaid contingent interest payments.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
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 stock: | Netflix Inc. (Symbol: NFLX)
|
Amount: | $575,000
|
Maturity: | Aug. 19, 2020
|
Coupon: | If Netflix stock closes at or above trigger value on quarterly review date, notes pay contingent coupon at rate of 10% per year plus any previously unpaid contingent interest payments
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below trigger value, in which case 1% loss for every 1% that stock finishes below initial share price
|
Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than final one
|
Initial share price: | $318.83
|
Final share price: Average of stock’s closing share prices on five trading days ending Aug. 14, 2020
|
Trigger value: | $201.18173, or 63.1% of initial share price
|
Pricing date: | Aug. 2
|
Settlement date: | Aug. 7
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1%
|
Cusip: | 48132CG49
|
© 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.