By Kiku Steinfeld
Chicago, April 12 – JPMorgan Chase Financial Co. LLC priced $1.45 million of autocallable contingent interest notes due March 27, 2026 linked to the least performing of the shares of Wells Fargo & Co. and Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first through third and final dates.
The payout at maturity will be par unless either stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 assets: | Wells Fargo & Co. and Citigroup Inc.
|
| Amount: | $1,446,000
|
| Maturity: | March 27, 2026
|
| Coupon: | 8.5% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than the first through third and final dates
|
| Initial levels: | $38.12 for Wells Fargo and $70.08 for Citi
|
| Trigger levels: | $22.872 for Wells Fargo and $42.048 for Citi, 60% of initial levels
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.35%
|
| Cusip: | 48132TJJ6
|
|
|
© 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.
