By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – JPMorgan Chase Financial Co. LLC priced $4.21 million of autocallable contingent interest notes due Oct. 5, 2020 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 5% if each index closes at or above its trigger level, 50% of its initial level, on the review date for that quarter.
The notes will be callable at par plus the contingent coupon on any interest payment date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 50% 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
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $4,207,000
|
| Maturity: | Oct. 5, 2020
|
| Coupon: | 5% annualized, payable quarterly if each index closes at or above 50% trigger on review date for that quarter
|
| Price: | Par
|
| Call option: | At par plus contingent coupon on any interest payment date other than first and final dates
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to any losses of worse performing index
|
| Initial levels: | 2,159.93 for S&P and 1,246.381 for Russell
|
| Trigger levels: | 1,079.965 for S&P and 623.1905 for Russell; 50% of initial levels
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.98485%
|
| Cusip: | 46646EZU9
|
|
|
© 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.
