By Tali Rackner
Norfolk, Va., Aug. 23 – JPMorgan Chase Financial Co. LLC priced $2.33 million of autocallable contingent interest notes due Nov. 24, 2017 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.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if each index closes above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses in the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,332,000
|
| Maturity: | Nov. 24, 2017
|
| Coupon: | 7.25% per year, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to losses of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final dates
|
| Initial levels: | 2,183.87 for S&P and 1,236.769 for Russell
|
| Interest barrier/trigger levels: | 1,419.5155 for S&P and 803.89985 for Russell; 65% of initial levels
|
| Pricing date: | Aug. 19
|
| Settlement date: | Aug. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 46646EUC4
|
|
|
|
|
© 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.
