By Kiku Steinfeld
Chicago, Oct. 2 – JPMorgan Chase Financial Co. LLC priced $1.91 million of 0% digital notes due Oct. 1, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event occurs if either index closes below its trigger value, 70% of its initial level, on any day during the life of the notes.
If a trigger event has not occurred, the payout at maturity will be par plus the contingent digital return of 8.75%.
If a trigger event has occurred and each index finishes at or above its initial level, the payout will be par.
If a trigger event has occurred and either index finishes below its initial level, investors will have one-to-one exposure to the decline of the lesser-performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,907,000
|
| Maturity: | Oct. 1, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If trigger event has not occurred, par plus contingent digital return of 8.25%; if trigger event has occurred and final level of each index is greater than or equal to initial level, par; if trigger event has occurred and final level of either index is less than initial level, exposure to decline of lesser-performing index
|
| Initial levels: | 2,878.38 for S&P and 1,476.002 for Russell
|
| Trigger values: | 2,014.866 for S&P, 1,033.2014 for Russel, 70% of initial levels
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132FCS3
|
|
|
© 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.
