Chicago, June 28 – JPMorgan Chase Financial Co. LLC priced $1.38 million of autocallable contingent interest notes due June 5, 2025 linked to the least performing of the Consumer Discretionary Select Sector SPDR fund, Consumer Staples Select Sector SPDR fund and Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically at par starting Dec. 1, 2023 if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Consumer Discretionary Select Sector SPDR fund, Consumer Staples Select Sector SPDR fund and Health Care Select Sector SPDR fund
|
| Amount: | $1,375,000
|
| Maturity: | June 5, 2025
|
| Coupon: | 11% annual rate, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
|
| Call: | Automatically at par starting Dec. 1, 2023 if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial levels: | $151.61 for Consumer Discretionary, $72.67 for Consumer Staples, $127.83 for Health Care
|
| Trigger levels: | $106.127 for Consumer Discretionary, $50.869 for Consumer Staples, $89.481 for Health Care, 70% of initial levels
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48133XFY7
|
|
|
© 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.
