By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – JPMorgan Chase Financial Co. LLC priced $563,000 of autocallable contingent interest notes due May 5, 2021 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.55% if the stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the first and final date.
The payout at maturity will be par unless the stock finishes below its initial level and has ever closed below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses.
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: | Apple Inc.
|
Amount: | $563,000
|
Maturity: | May 5, 2021
|
Coupon: | 6.55% annualized, payable quarterly if stock closes at or above 65% coupon barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless the stock finishes below its initial level and has ever closed below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses
|
Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than first and final date
|
Initial level: | $323.87
|
Trigger level: | $226.709, 70% of initial level
|
Pricing date: | Jan. 30
|
Settlement date: | Feb. 4
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.5%
|
Cusip: | 48132HVP4
|
|
© 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.