By Wendy Van Sickle
Columbus, Ohio, June 7 – JPMorgan Chase Financial Co. LLC priced $5.5 million of callable contingent interest notes due June 3, 2027 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8% if each index closes at or above its interest barrier level, 75% of its initial level, on the review date for that quarter.
The notes may be called at par plus the coupon in whole but not in part on any interest payment date other than the first and final ones.
If the notes have not been called, the payout at maturity will be par plus the coupon unless either index finishes below its trigger level, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performing index from its initial level.
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: | $5.5 million
|
Maturity: | June 3, 2027
|
Coupon: | Notes pay quarterly contingent coupon at annual rate of 8% if each index closes at or above interest barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | Par plus coupon unless either index finishes below 70% of its initial value, in which case 1% loss for every 1% decline of worst-performing index from initial level
|
Call: | At par plus coupon on any quarterly review date other than first and final dates
|
Initial index levels: | 2,415.82 for S&P 500, 1,382.244 for Russell 2000
|
Interest barriers: | 1,811.865 for S&P 500, 1,036.683 for Russell 2000; 75% of initial levels
|
Trigger levels: | 1,449.492 for S&P 500, 829.3464 for Russell 2000; 60% of initial levels
|
Pricing date: | May 26
|
Settlement date: | June 1
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 3.35%
|
Cusip: | 46647MDN0
|
|
© 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.