By Angela McDaniels
Tacoma, Wash., Jan. 25 - JPMorgan Chase & Co. priced $3.59 million of callable range accrual notes due Jan. 26, 2026 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 7.25% per year multiplied by the proportion of days on which six-month Libor is 7% or less and the closing index level is 900 or more. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Jan. 26, 2016, the notes will be callable at par on any interest payment date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable range accrual notes
|
| Amount: | $3,592,000
|
| Maturity: | Jan. 26, 2026
|
| Coupon: | 7.25% per year multiplied by proportion of days on which six-month Libor is 7% or less and index's closing level is 900 or more; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after five years
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 6.174%, with 3% for selling concessions
|
| Cusip: | 48125XAX4
|
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