By Angela McDaniels
Tacoma, Wash., March 28 – JPMorgan Chase Financial Co. LLC priced $1.87 million of autocallable contingent interest notes due March 31, 2020 linked to the lesser performing of the Nasdaq-100 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 the rate of 7.5% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 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: | Autocallable contingent interest notes
|
| Underlying indexes: | Nasdaq-100 and Russell 2000
|
| Amount: | $1,868,000
|
| Maturity: | March 31, 2020
|
| Coupon: | 7.5% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger value during life of notes and either index finishes below initial level, in which 1% loss for every 1% that lesser-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
|
| Initial levels: | 7,351.150 for Nasdaq-100 and 1,528.166 for Russell 2000
|
| Trigger values: | 5,145.805 for Nasdaq-100 and 1,069.7162 for Russell 2000, or 70% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.7%
|
| Cusip: | 48130W5E7
|
© 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.
