By Tali Rackner
Norfolk, Va., Oct. 26 – JPMorgan Chase Financial Co. LLC priced $600,000 of autocallable contingent interest notes due Oct. 26, 2021 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.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if the index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $600,000
|
| Maturity: | Oct. 26, 2021
|
| Coupon: | 7.5% annualized, payable quarterly if each index closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss for each 1% decline of lesser-performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first, second, third and final dates
|
| Initial levels: | 2,141.16 for S&P 500 and 1,218.096 for Russell 2000
|
| Barrier/trigger values: | 1,284.696 for S&P 500 and 730.8576 for Russell 2000; 60% of initial levels
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.73958%
|
| Cusip: | 46646EW57
|
|
|
|
|
© 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.
