By Wendy Van Sickle
Columbus, Ohio, May 27 – JPMorgan Chase Financial Co. LLC priced $1.16 million of autocallable contingent interest notes due Aug. 9, 2022 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.55% if the fund closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the coupon unless the fund finishes below its 70% barrier level, in which case investors will be exposed to the fund’s decline from 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 fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,161,000
|
| Maturity: | Aug. 9, 2022
|
| Coupon: | 7.55% annualized, payable quarterly if fund closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the fund finishes below its barrier level, in which case investors will be exposed to the fund’s decline from its initial level
|
| Call: | At par plus contingent coupon if fund closes at or above initial level on any quarterly review date other than final date
|
| Initial level: | $34.36
|
| Coupon barrier level: | $24.717, 70% of initial level
|
| Barrier level: | $24.717, 70% of initial level
|
| Pricing date: | May 4
|
| Settlement date: | May 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132TE85
|
|
|
© 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.
