By Kiku Steinfeld
Chicago, Jan. 25 – JPMorgan Chase Financial Co. LLC priced $7.7 million of autocallable contingent interest notes due Feb. 2, 2022 linked to the common stock of CVS Health Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the coupon barrier – 75% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 10% per year, in which case any previously unpaid coupons will also be paid.
If the shares close at or above their initial price on any quarterly review date other than the final date, the notes will be called at par plus the contingent coupon and any previously unpaid coupons.
The payout at maturity will be par plus the final coupon and any previously unpaid coupons unless the final share price is less than the 75% trigger price, in which case investors will be exposed to the share price decline from the initial 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 stock: | CVS Health Corp.
|
| Amount: | $7,696,000
|
| Maturity: | Feb. 2, 2022
|
| Coupon: | 10% per year, payable each quarter that stock closes at or above coupon barrier on review date for that quarter, in which case any previously unpaid coupons will also be paid.
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon and any previously unpaid coupons unless the final share price is less than the trigger price, in which case investors will be exposed to the share price decline from the initial price
|
| Call: | Automatically at par plus coupon and any previously unpaid coupons if shares close at or above initial price on any quarterly review date other than final date
|
| Initial share price: | $76.26
|
| Coupon barrier: | $57.195, 75% of initial price
|
| Trigger price: | $57.195, 75% of initial price
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132RKU3
|
|
|
© 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.
