By Angela McDaniels
Tacoma, Wash., March 28 – JPMorgan Chase Financial Co. LLC priced $1.03 million of autocallable contingent interest notes due March 31, 2022 linked to the lesser performing of the common stocks of CVS Health Corp. and Walgreens Boots Alliance, Inc., 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 the rate of 10.65% per year if each stock closes at or above its trigger value, 70% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its call value, 90% of its initial share price, on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing stock finishes below its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | CVS Health Corp. (Symbol: CVS) and Walgreens Boots Alliance, Inc. (Symbol: WBA)
|
| Amount: | $1,033,000
|
| Maturity: | March 31, 2022
|
| Coupon: | 10.65% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below trigger value, in which case 1% loss for every 1% that lesser-performing stock finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above call value, 90% of initial share price, on any quarterly review date other than final one
|
| Initial share price: | $55.39 for CVS and $61.92 for Walgreens Boots
|
| Trigger values: | $38.773 for CVS and $43.344 for Walgreens Boots, or 70% of initial share prices
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48130WG96
|
© 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.
