By Sarah Lizee
Olympia, Wash., March 27 – JPMorgan Chase Financial Co. LLC priced $300,000 of callable contingent interest notes due March 30, 2021 linked to the common stock of SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 11.05% if the ETF closes at or above the trigger level, 70% of the initial price, on the review date for that quarter.
The notes are callable at par on any interest payment date other than the final interest payment date.
The payout at maturity will be par unless the ETF finishes below its trigger level, in which case investors will be fully exposed to its decline from its initial price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $300,000
|
| Maturity: | March 30, 2021
|
| Coupon: | 11.05%, payable quarterly if ETF closes at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if ETF finishes at or above trigger level; otherwise, exposure to decline of ETF from initial price
|
| Call option: | At par on any interest payment date other than final interest payment date
|
| Initial price: | $30.08
|
| Trigger level: | $21.056, 70% of initial share price
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48130WM40
|
© 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.
