By Wendy Van Sickle
Columbus, Ohio, May 18 – JPMorgan Chase Financial Co. LLC priced $625,000 of autocallable contingent interest notes due Feb. 1, 2024 tied to the lesser performing of the ARK Innovation ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8% per year if each asset closes at or above its interest barrier level, 60% of its initial level, on the review date for that month.
The notes will be automatically called at par if each asset closes at or above its initial level on any quarterly auto call review date after six months.
If the notes have not been called, the payout at maturity will be par unless either asset finishes below its initial level and either asset has closed below its barrier level, 60% of its initial level, during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level.
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 assets: | ARK Innovation ETF and S&P 500 index
|
| Amount: | $625,000
|
| Maturity: | Feb. 1, 2024
|
| Coupon: | 8% per year, payable monthly if each asset closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset finishes below its initial level and either asset has closed below its barrier level during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing asset finishes below its initial level
|
| Call: | Automatically at par if each asset closes at or above its initial level on any quarterly auto call review date after six months
|
| Initial asset levels: | $126.24 for ETF, 4,186.72 for S&P
|
| Coupon barrier levels: | $75.744 for ETF, 2,512.032 for S&P; 60% of initial levels
|
| Barrier levels: | $75.744 for ETF, 2,512.032 for S&P; 60% of initial levels
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.9%
|
| Cusip: | 48132TYU4
|
|
|
© 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.
