By Susanna Moon
Chicago, March 8 – JPMorgan Chase Financial Co. LLC priced $3.4 million of trigger autocallable contingent yield notes due Feb. 27, 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 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 level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 70% trigger level, in which case investors will be fully exposure to any losses of the worse performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $3,401,200
|
| Maturity: | Feb. 27, 2020
|
| Contingent coupon: | 8%, payable quarterly if each index closes at or above 70% coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date beginning Aug. 24, 2017
|
| Payout at maturity: | Par unless either index finishes below 70% threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial levels: | 2,367.34 for S&P and 1,394.525 for Russell
|
| Trigger levels: | 1,657.138 for S&P and 976.1675 for Russell; 70% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 28
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48129F853
|
|
|
|
|
© 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.
