By Wendy Van Sickle
Columbus, Ohio, Aug. 18 – JPMorgan Chase Financial Co. LLC priced $859,000 autocallable contingent interest notes due Aug. 20, 2020 linked to the lesser performing of the SPDR S&P Biotech exchange-traded 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.
Each month, the notes will pay a contingent coupon at an annualized rate of 13% if each fund closes at or above its interest barrier, 60% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each fund closes at or above its initial level on any quarterly review date.
If the notes have not been called, the payout at maturity will be par unless any ETF finishes below its 60% trigger value, in which case investors will lose 1% for every 1% decline of the lesser-performing fund.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETFs: SPDR S&P Biotech ETF and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
|
| Amount: | $859,000
|
| Maturity: | Aug. 20, 2020
|
| Coupon: | 13% annualized, payable monthly if each underlying ETF closes at or above coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either ETF finishes below trigger level, in which case 1% loss for each 1% decline of worst performer
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any quarterly review date
|
| Initial levels: | $76.49 for Biotech, $29.55 for Oil & Gas
|
| Interest barriers/trigger values: | $45.894 for Biotech, $17.73 for Oil & Gas; 60% of initial levels
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.59738%
|
| Cusip: | 46647MN74
|
|
|
© 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.
