By Susanna Moon
Chicago, Jan. 20 – JPMorgan Chase Financial Co. LLC priced $2.45 million of callable contingent interest notes due Jan. 25, 2019 linked to the least 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 7.75% if each index closes at or above its coupon barrier level, 60% of its initial level, on the review date for that quarter.
The notes will be callable at par plus the contingent coupon on any review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 60% trigger level during the life of the notes l, 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: | Callable contingent interest notes
|
Underlying indexes: | S&P 500, Russell 2000
|
Amount: | $2,448,000
|
Maturity: | Jan. 25, 2019
|
Issue price: | Par
|
Coupon: | 7.75% annualized, payable quarterly if each underlying index closes at or above 60% coupon barrier on review date for that quarter
|
Payout at maturity: | Par unless either index falls and either index ever closes below its 60% trigger level during the life of the notes, in which case full exposure to any losses of worse performing index
|
Call option: | At par plus contingent coupon on any review date other than first and final dates
|
Initial levels: | 2,267.89 for S&P, 1,352.324 for Russell
|
Trigger levels: | 1,360.734 for S&P, 811.3944 for Russell; 60% of initial levels
|
Pricing date: | Jan. 17
|
Settlement date: | Jan. 20
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 0.75%
|
Cusip: | 46646QVB8
|
|
|
© 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.