By Marisa Wong
Morgantown, W.Va., Jan. 11 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due April 12, 2018 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 will be guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at an annual rate of 9% if each index closes at or above its barrier level, 70% of its initial level, on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on July 10, Oct. 10, 2017 or Jan. 9, 2018.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse 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, Russell 2000
|
| Amount: | $1 million
|
| Maturity: | April 12, 2018
|
| Coupon: | 9% per year, payable each month that each index closes at or above its barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case exposure to decline of lesser performing index
|
| Call option: | At par plus the contingent coupon if each index closes at or above its initial level on July 10, Oct. 10, 2017 or Jan. 9, 2018
|
| Initial index levels: | 2,268.90 for S&P and 1,357.491 for Russell
|
| Barrier/trigger levels: | 1,588.23 for S&P and 950.2437 for Russell, 70% of initial level
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
|
| Cusip: | 46646QTW5
|
|
|
© 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.
