By Susanna Moon
Chicago, Sept. 28 – JPMorgan Chase Financial Co. LLC priced $19.02 million of callable contingent interest notes due Sept. 30, 2020 linked to least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent semiannual coupon at an annual rate of 5% if each index closes at or above its coupon barrier level, 50% of its initial level, on the review date for that period.
The notes will be callable at par plus the contingent coupon on any review date other than the final date.
The payout at maturity will be par unless either index finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlyings: | S&P 500 and Russell 2000
|
| Amount: | $19.02 million
|
| Maturity: | Sept. 30, 2020
|
| Coupon: | 5% annualized, payable semiannually if each index closes at or above 50% barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to any losses of the worse performing index
|
| Call option: | At par plus contingent coupon on any review date other than final date
|
| Initial levels: | 2,164.69 for S&P, 1,254.623 for Russell
|
| Trigger levels: | 1,082.345 for S&P, 627.3115 for Russell; 50% of initial levels
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.3%
|
| Cusip: | 46646EWE8
|
|
|
|
|
|
|
|
|
© 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.
