By Wendy Van Sickle
Columbus, Ohio, April 26 – JPMorgan Chase Financial Co. LLC priced $20 million of 11.5% autocallable yield notes due April 25, 2022 linked to the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par if the ETF closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the coupon unless the ETF finishes below its buffer level, 80% of its initial level, in which case investors will lose 1.25% for each 1% decline beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying ETF: | VanEck Vectors Oil Services ETF
|
| Amount: | $20 million
|
| Maturity: | April 25, 2022
|
| Coupon: | 11.5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless the ETF finishes below its buffer level, in which case 1.25% loss for each 1% decline beyond 20%
|
| Call: | At par if the ETF closes at or above its initial level on any quarterly review date other than the final one
|
| Initial level: | $174.26
|
| Buffer level: | $139.408, 80% of initial level
|
| Pricing date: | April 21
|
| Settlement date: | April 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48132TYV2
|
|
|
© 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.
