By Wendy Van Sickle
Columbus, Ohio, May 17 – JPMorgan Chase Financial Co. LLC priced $2.95 million of 6% autocallable yield notes due Aug. 16, 2018 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date, beginning Aug. 14.
If the notes are not called, the payout at maturity will be par unless either index closes below its 70% trigger any day during the life of the notes and either index closes below its initial level, in which case investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,952,000
|
| Maturity: | Aug. 16, 2018
|
| Coupon: | 6% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any index finishes below its initial level and either has closed below trigger any day during life of notes, in which case 1% loss for each 1% decline of the worst-performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date beginning on Aug. 14
|
| Initial index levels: | 2,390.90 for S&P, 1,382.770 for Russell
|
| Trigger levels: | 1,673.63 for S&P and 967.939 for Russell, 70% of initial levels
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.35864%
|
| Cusip: | 46647MAD5
|
|
|
© 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.
