By Wendy Van Sickle
Columbus, Ohio, July 7 – JPMorgan Chase Financial Co. LLC priced $10 million of 0% review notes due July 6, 2022 linked to the lesser performing of the Euro Stoxx Banks index and the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 10.8% per year if each underlier closes at or above its initial level on any on the first four annual review dates or above 60% of its initial level on the final review date.
If the notes are not called and the final level of each underlier is greater than or equal to its trigger value, 60% of its initial level, the payout will be par plus 10%. Otherwise, investors will lose 1% for each 1% that the lesser-performing underlier finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying assets: | Euro Stoxx Banks index and SPDR S&P Bank exchange-traded fund
|
| Amount: | $10 million
|
| Maturity: | July 6, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Full exposure to any losses of worse performing asset
|
| Call: | At par plus 10.8% per year if each asset closes at or above initial level on July 20, 2018, July 1, 2019, June 30, 2020 or June 30, 2021 or above 60% of its initial level on June 30, 2022
|
| Initial levels: | 131.16 for index and $43.52 for ETF
|
| Trigger levels: | 234.108 for index and $22.638 for ETF; 60% of initial levels
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46647MWG4
|
|
|
© 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.
