JPMorgan plans buffered step-up autocallables tied to Russell, S&P

By Susanna Moon

Chicago, July 10 – JPMorgan Chase Financial Co. LLC plans to price 0% step-up autocallable buffered equity notes due July 31, 2025 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 8% if each index closes at or above its call level on any annual review date other than the final date. The call level will be 102.5% of the initial level on the first review date, stepping up by 250 basis points on each subsequent review date.

If each underlying index finishes above its initial level, the payout at maturity will be par plus the gain of the worse performing asset.

If either asset falls by up to its 20% buffer, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the worse performing index beyond the buffer.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 26.

The Cusip number is 48129M7G5.

© 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.