JPMorgan plans capped notes linked to dollar vs. offshore renminbi

By Angela McDaniels

Tacoma, Wash., Jan. 15 – JPMorgan Chase Financial Co. LLC plans to price 0% capped notes due Jan. 27, 2020 linked to the performance of the dollar relative to the offshore Chinese renminbi, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The issuer said the notes are designed for investors who seek exposure to any appreciation of the dollar relative to the offshore Chinese renminbi.

The payout at maturity will be par plus the reference currency return, subject to a minimum payout of par and a maximum return that is expected to be at least 18.15% and will be set at pricing.

The reference currency return will be the quotient of (a) the ending spot rate minus the starting spot rate divided by (b) the ending spot rate.

J.P. Morgan Securities LLC is the agent.

The notes will price Jan. 18.

The Cusip number is 48130UPZ2.

© 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.