Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
JPMorgan plans callable contingent interest notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due March 2, 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 will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of at least 5% if each index closes at or above its barrier level, 60% of its initial level, on a quarterly review date, with the exact rate to be set at pricing.
The notes will be callable at par on any coupon payment date other than the first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its barrier 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.
The notes will price on Feb. 23 and settle on Feb. 28.
The Cusip number is 46646QF67.
© 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.