By Wendy Van Sickle
Columbus, Ohio, March 28 – JPMorgan Chase Financial Co. LLC priced $645,000 of autocallable contingent interest notes due June 28, 2018 linked to the VanEck Vectors Gold Miners exchange-traded fund, 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 quarterly coupon at an annualized rate of 9.25% if the fund closes at or above its 60% trigger price on the observation date for that quarter.
The notes will be redeemed at par plus the contingent payment if the fund closes at or above its initial level on any determination date other than the first and final dates.
The payout at maturity will be par plus the final coupon unless the fund closes below the 60% trigger on any day during the life of the notes, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $645,000
|
| Maturity: | June 28, 2018
|
| Coupon: | 9.25% per year, payable each quarter that fund closes at or above trigger price on review date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless the fund finishes below the trigger price, in which case investors will be exposed to the share price decline from the initial price
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly review date other than first and final dates
|
| Initial share price: | $22.92
|
| Trigger price: | $13.752, 60% of initial price
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1.65%
|
| Cusip: | 46646QMU6
|
|
|
© 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.
