New York, June 27 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due June 21, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.55%, paid quarterly, if the underlying fund closes at or above its 80% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Sept. 16 if the price of the underlying fund is greater than or equal to its strike price and on any subsequent quarterly review date.
At maturity the payout will be par unless the ETF closes below its 60% trigger level in which case investors will be fully exposed to the decline of the ETF.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | SPDR S&P 500 ETF Trust (Ticker: SPY)
|
| Amount: | $1 million
|
| Maturity: | June 21, 2024
|
| Coupon: | 10.55%, paid quarterly, if the underlying fund closes at or above its 80% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the ETF closes below its trigger level in which case investors will be fully exposed to the decline in the ETF
|
| Call: | Automatically starting Sept. 16 if the price of the underlying fund is greater than or equal to its strike price and on any subsequent quarterly review date
|
| Initial level: | $366.65 on strike date of June 16
|
| Trigger level: | $219.99, 60% of initial level
|
| Coupon barrier: | $293.32, 80% of initial level
|
| Pricing date: | June 17
|
| Settlement date: | June 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 48133GG56
|
|
|
|
|
© 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.
