By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – JPMorgan Chase Financial Co. LLC priced $3.17 million of autocallable contingent interest notes due Jan. 31, 2022 linked to the 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.
If the ETF closes at or above the coupon barrier – 85% of the initial share price – on a monthly review date, the issuer will pay a contingent coupon for that month at a rate of 8% per year.
If the shares close at or above their initial price on any monthly review date other than the first, second and final dates, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par plus the final coupon, unless the final share price is less than 85% buffer price, in which case investors will be exposed to the share price decline beyond the buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $3,171,000
|
| Maturity: | Jan. 31, 2022
|
| Coupon: | 8% per year, payable each month that ETF closes at or above coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless the final share price is less than buffer price in which case 1% loss for each 1% decline beyond 15%
|
| Call: | Automatically at par plus coupon if shares close at or above initial price on any monthly review date other than first, second and final dates
|
| Initial share price: | $247.97
|
| Coupon barrier: | $16.9745, 85% of initial price
|
| Buffer price: | $16.9745, 85% of initial price
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.49101%
|
| Cusip: | 48132HB27
|
|
|
© 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.
