By Wendy Van Sickle
Columbus, Ohio, March 29 – JPMorgan Chase Financial Co. LLC priced $588,000 of 0% review notes due March 29, 2021 linked to the lesser performing of the Energy Select Sector SPDR fund and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual call premium of 11.4% if each fund closes at or above its initial level on any of four annual call dates.
The payout will be par plus the contingent minimum return of 10% if each fund finishes at or above its trigger level, which will be 70% of its initial level.
Otherwise, investors will be fully exposed to any losses of the worse performing fund.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Review notes
|
Underlying funds: | Energy Select Sector SPDR fund and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
|
Amount: | $588,000
|
Maturity: | March 29, 2021
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 10% unless either fund finishes below 70% trigger level, in which case 1% loss per 1% decline of worse performing fund
|
Call: | At par plus a call premium of 11.4% per year if each fund closes at or above its initial level on any of four annual call dates
|
Initial levels: | $68.56 for Energy Select and $35.21 for oil and gas fund
|
Trigger levels: | $47.992 for Energy Select and $24.647 for oil and gas fund; 70% of initial levels
|
Pricing date: | March 24
|
Settlement date: | March 31
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.4%
|
Cusip: | 46646QS89
|
|
© 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.