By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – JPMorgan Chase Financial Co. LLC priced $13.42 million of 0% autocallable contingent interest notes due Jan. 31, 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 will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its coupon barrier, 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 has closed below its 70% trigger level 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: | $13,415,000
|
| Maturity: | Jan. 31, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Coupon: | 8% annualized, payable quarterly if each underlying index closes at or above coupon barrier on review date for that quarter
|
| Payout at maturity: | Par unless either index falls below trigger any day during life of notes and either index finishes below its initial level, 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 index levels: | 2,296.68 for S&P and 1,375.595 for Russell
|
| Barrier/trigger levels: | 1,607.676 for S&P and 962.9165 for Russell; 70% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.3946%
|
| Cusip: | 46646QHY4
|
|
|
|
|
© 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.
