By Angela McDaniels
Tacoma, Wash., Feb. 27 – JPMorgan Chase & Co. priced $12.08 million of range accrual notes due Feb. 27, 2030 linked to the S&P 500 index and six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is equal to the interest factor multiplied by the proportion of days on which six-month Libor is 5% or less and the index’s closing level is at least 75% of its initial level. The interest factor is 4% per year in years one through five and 8% per year in years six through 15. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Feb. 27, 2016, the notes are callable at par on any quarterly call date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Range accrual notes
|
| Underlyings: | Six-month Libor, S&P 500 index
|
| Amount: | $12,079,000
|
| Maturity: | Feb. 27, 2030
|
| Coupon: | Interest factor multiplied by proportion of days on which six-month Libor is 5% or less and index closes at or above reference level; payable quarterly
|
| Interest factor: | 4% per year in years one through five and 8% per year in years six through 15
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on any quarterly call date beginning Feb. 27, 2016
|
| Reference level: | 1,585.395, 75% of initial level
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48125UCH3
|
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