By Wendy Van Sickle
Columbus, Ohio, July 9 – JPMorgan Chase Financial Co. LLC priced $980,000 of autocallable contingent interest notes due June 25, 2021 linked to the common stock of Viacom Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the trigger price – 70% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 8.6% per year.
If the shares close at or above the initial price on any review date, other than the first and final dates, the notes will be called at par plus the contingent coupon.
If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Viacom Inc.
|
| Amount: | $980,000
|
| Maturity: | June 25, 2021
|
| Coupon: | 8.6%, payable each quarter that stock closes at or above trigger price on review date
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger level; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any review date other than first and final dates
|
| Initial share price: | $30.28
|
| Trigger: | $21.196, 70% of initial price
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48129M4B9
|
|
|
© 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.
