By Sarah Lizee
Olympia, Wash., Aug. 7 – JPMorgan Chase Financial Co. LLC priced $7,000 of 0% uncapped buffered equity notes due July 31, 2024 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.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus the greater of 34.25% and the lesser-performing index’s return.
If the final level of one index is greater than or equal to its initial level and the final level of the other index is less than its initial level by up to 20% or if the final level of each index is less than its initial level by up to 20%, the payout will be par.
If the final level of either index is less than its initial level by more than 20%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Uncapped buffered equity notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $7,000
|
| Maturity: | July 31, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus greater of 34.25% and lesser-performing index’s return; if final level of one index is greater than or equal to initial level and final level of other index is less than initial level by up to 20% or if final level of each index is less than initial level by up to 20%, par; if final level of either index is less than initial level by more than 20%, 1% loss for every 1% that lesser-performing index declines beyond 20%
|
| Initial levels: | 2,980.38 for S&P and 1,574.605 for Russell
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48132CZJ5
|
© 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.
