New Issue: JPMorgan sells $255,000 contingent interest autocalls on indexes, ETF

By Kiku Steinfeld

Chicago, March 4 – JPMorgan Chase Financial Co. LLC priced $255,000 of autocallable contingent interest notes due Sept. 14, 2023 tied to the least performing of the iShares MSCI Emerging Markets ETF, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 7.1% per year if each asset closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.

The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly review date other than the first and final review dates.

If the notes have not been called, the payout at maturity will be par unless any asset finishes below 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level.

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
Underliers:	Nasdaq-100 index, Russell 2000 index and iShares MSCI Emerging Markets ETF
Amount:	$255,000
Maturity:	Sept. 14, 2023
Coupon:	7.1% per year, payable quarterly if each asset closes at or above interest barrier level on review date for that quarter
Price:	Par
Payout at maturity:	Par unless any asset finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level
Call:	Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly review date other than the first and final ones
Initial levels:	15,440.75 for Nasdaq, $52.49 for ETF, 2,227.546 for Russell
Interest barriers:	10,808.525 for Nasdaq, $36.743 for ETF, 1,559.2822 for Russell; 70% of initial levels
Trigger levels:	10,808.525 for Nasdaq, $36.743 for ETF, 1,559.2822 for Russell; 70% of initial levels
Pricing date:	Sept. 10
Settlement date:	Sept. 15
Agent:	J.P. Morgan Securities LLC
Fees:	0.6%
Cusip:	48132WRL5

© 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.