By Marisa Wong
Morgantown, W.Va., May 1 – JPMorgan Chase Financial Co. LLC priced $14.08 million of 0% review notes due April 28, 2021 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 be called at par plus a call premium of 10% a year if each index closes at or above its initial level on any annual call date.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout will be par plus the contingent minimum return of 10%.
Otherwise, investors will lose 1% for each 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $14,078,000
|
| Maturity: | April 28, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 10% unless either index finishes below 70% trigger level, in which case 1% loss per 1% decline of worse performing index
|
| Call: | At par plus a call premium of 10% per year if each index closes at or above its initial level on any annual call date
|
| Initial levels: | 2,348.69 for S&P and 1,379.854 for Russell
|
| Trigger levels: | 1,644.083 for S&P and 965.8978 for Russell; 70% of initial levels
|
| Pricing date: | April 21
|
| Settlement date: | April 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 46646Q4T9
|
|
|
© 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.
