New York, July 21 – JPMorgan Chase Financial Co. LLC priced $8.57 million of contingent income autocallable securities due July 17, 2020 linked to the common units of Blackstone Group LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent payment that quarter at an annualized rate of 9.6% if Blackstone shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date.
The notes will be called at par of $10 plus the contingent coupon if Blackstone shares close at or above the initial share price on any determination date other than the final date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Blackstone Group LP
|
| Amount: | $8,570,640
|
| Maturity: | July 17, 2020
|
| Coupon: | 9.6 % per year, payable quarterly if stock closes at or above downside threshold on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus final contingent coupon; otherwise, full exposure to decline
|
| Call: | Automatic call at par if stock closes at or above initial level on any quarterly determination date other than final date
|
| Initial stock price: | $34.44
|
| Downside threshold: | $27.552, 80% of initial price
|
| Pricing date: | July 14
|
| Settlement date: | July 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 48129G422
|
|
|
|
|
© 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.
