By Angela McDaniels
Tacoma, Wash., Aug. 20 - JPMorgan Chase & Co. priced $6 million of callable range accrual notes due Aug. 21, 2028 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 7.45% per year multiplied by the proportion of days on which the index closes at or above 1,250 and six-month Libor is 6% or less. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Aug. 21, 2018, the notes will be redeemable at par on any interest payment date.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Callable range accrual notes
|
Underlyings: | Six-month Libor, S&P 500
|
Amount: | $6 million
|
Maturity: | Aug. 21, 2028
|
Coupon: | 7.45% per year multiplied by proportion of days on which index closes at or above 1,250 and six-month Libor is 6% or less; payable quarterly
|
Price: | Variable prices
|
Payout at maturity: | Par
|
Call option: | At par on any interest payment date from Aug. 21, 2018 onward
|
Pricing date: | Aug. 19
|
Settlement date: | Aug. 21
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2%
|
Cusip: | 48126D6N4
|
© 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.