By Marisa Wong
Morgantown, W.Va., Jan. 18 – JPMorgan Chase Financial Co. LLC priced $17.21 million of autocallable contingent interest notes due April 18, 2018 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its 70% trigger level on any day during the life of the notes, 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: | Autocallable contingent interest notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $17,209,000
|
Maturity: | April 18, 2018
|
Issue price: | Par
|
Coupon: | 6% annualized, payable each quarter that each underlying index closes at or above coupon barrier on review date for that quarter
|
Payout at maturity: | Par unless either index finishes below initial level and either index closes below trigger level during life of notes, in which case full exposure to any losses of worse performing index
|
Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final date
|
Initial levels: | 2,274.64 for S&P 500 and 1,372.047 for Russell 2000
|
Coupon barriers: | 1,592.248 for S&P 500 and 960.4329 for Russell 2000; 70% of initial levels
|
Trigger levels: | 1,592.248 for S&P 500 and 960.4329 for Russell 2000; 70% of initial levels
|
Pricing date: | Jan. 13
|
Settlement date: | Jan. 19
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.10887%
|
Cusip: | 46646QNQ4
|
|
© 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.