By Susanna Moon
Chicago, June 25 – JPMorgan Chase Financial Co. LLC priced $1.35 million of autocallable contingent interest notes due June 20, 2023 linked to the lesser performing of the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each fund closes at or above its 70% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either fund finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing fund.
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 funds: | iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust
|
| Amount: | $1.35 million
|
| Maturity: | June 20, 2023
|
| Coupon: | 7% annualized, payable semiannually if each fund closes at or above 70% coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either fund closes below 65% trigger, in which case 1% loss for each 1% decline of worse performing fund
|
| Call: | At par plus contingent coupon if each fund closes at or above initial level on any review date other than final date
|
| Initial levels: | $167.81 for Russell fund, $277.13 for S&P fund
|
| Coupon barriers: | $117.467 for Russell fund, $109.0765 for S&P fund, 70% of initial levels
|
| Trigger levels: | $109.0765 for Russell fund, $180.1345 for S&P fund, 65% of initial levels
|
| Pricing date: | June 15
|
| Settlement date: | June 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48129M3L8
|
|
|
|
|
© 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.
