JPMorgan intends to price review notes due 2021 tied to S&P, Russell

By Devika Patel

Knoxville, Tenn., Sept. 27 – JPMorgan Chase Financial Co. LLC plans to price 0% review notes due Oct. 8, 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 will be guaranteed by JPMorgan Chase & Co.

The notes will be called at par plus a premium if each index closes at or above its initial level on any annual review date. The exact call premiums will be set at pricing but are expected to be at least 8% for the first review date, at least 16% for the second review date, at least 24% for the third review date and at least 32% for the final review 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 at maturity will be par. Otherwise, investors will lose 1% for each 1% that the lesser-performing index final level is less than its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48129HBE6) will price on Oct. 5 and settle on Oct. 12.

© 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.