By Wendy Van Sickle
Columbus, Ohio, April 8 – JPMorgan Chase Financial Co. LLC priced $3.35 million of autocallable contingent interest notes due April 13, 2022 linked to Freeport-McMoRan Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annualized rate of 15.65% if the stock closes at or above its coupon barrier level, 55% of the initial level, on the observation date for that period, plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly valuation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 55% trigger level, in which case investors will be fully exposed to the stock’s losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Freeport-McMoRan Inc.
|
| Amount: | $3.35 million
|
| Maturity: | April 13, 2022
|
| Coupon: | 15.65% per year, payable each quarter that stock closes at or above its interest barrier on the observation date for that period, plus any unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below its trigger level, in which case full exposure to stock’s losses
|
| Call: | At par plus the contingent coupon if stock closes at or above the initial level on any quarterly valuation date other than final date
|
| Initial level: | $32.96
|
| Interest barrier: | $18.128, 55% of initial level
|
| Trigger level: | $18.128, 55% of initial level
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132TLF1
|
© 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.
