By Angela McDaniels
Tacoma, Wash., May 2 – JPMorgan Chase Financial Co. LLC priced $11.34 million of 0% dual directional trigger participation securities due June 3, 2020 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus the index return, subject to a maximum return of 10%.
If the final index level is less than or equal to the initial index level but is greater than or equal to the trigger level, 90% of the initial index level, the payout will be par plus the absolute value of the index return.
If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Dual directional trigger participation securities
|
| Underlying index: | S&P 500
|
| Amount: | $11,337,520
|
| Maturity: | June 3, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than initial index level, par plus index return, subject to maximum return of 10%; if final index level is less than or equal to initial index level but greater than or equal to trigger level, par plus absolute value of index return; if index finishes below trigger level, 1% loss for every 1% that index declines from initial level
|
| Initial level: | 2,945.83
|
| Trigger level: | 2,651.247, 90% of initial level
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 48130X190
|
© 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.
