JPMorgan plans contingent income callable notes tied to three indexes

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – JPMorgan Chase Financial Co. LLC plans to price contingent income callable securities due Nov. 1, 2018 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent quarterly coupon at an annual rate of at least 7% if each index closes at or above its downside threshold level, 60% of its initial index level, on each day that quarter.

The notes will be callable at par on any interest payment date other than the first and final dates.

The payout at maturity will be par plus the final contingent coupon unless any index finishes below its downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.

J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.

The notes will price on Oct. 28.

The Cusip number is 46646E2R2.

© 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.