New Issue: JPMorgan prices $3.57 million contingent interest autocallables linked to indexes, oil ETF

By Angela McDaniels

Tacoma, Wash., Aug. 6 – JPMorgan Chase Financial Co. LLC priced $3.57 million of autocallable contingent interest notes due Nov. 4, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 14% per year if each underlier closes at or above its interest barrier, 70% of its initial level, on the review date for that month.

The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial level on Oct. 30, 2019, Jan. 30, 2020, April 30, 2020 or July 30, 2020.

If the notes have not been called, the payout at maturity will be par unless any underlier closes below its trigger value, 65% of its initial level, during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier finishes below its initial level.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Autocallable contingent interest notes
Underliers:	Russell 2000, S&P 500 and SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$3,572,000
Maturity:	Nov. 4, 2020
Coupon:	14% per year, payable monthly if each underlier closes at or above interest barrier on review date for that month
Price:	Par
Payout at maturity:	Par unless any underlier closes below trigger value during life of notes and any underlier finishes below initial level, in which 1% loss for every 1% that least-performing underlier finishes below initial level
Call:	Automatically at par plus contingent coupon if each underlier closes at or above initial level on Oct. 30, 2019, Jan. 30, 2020, April 30, 2020 or July 30, 2020
Initial levels:	1,585.599 for Russell 2000, 3,013.18 for S&P 500 and $24.97 for ETF
Interest barriers:	1,109.9193 for Russell 2000, 2,109.226 for S&P 500 and $17.479 for ETF, or 70% of initial levels
Trigger values:	1,030.6394 for Russell 2000, 1,958.567 for S&P 500 and $16.2305 for ETF, or 65% of initial levels
Pricing date:	July 30
Settlement date:	Aug. 2
Agent:	J.P. Morgan Securities LLC
Fees:	0.65362%
Cusip:	48132C6W8

© 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.