By Sarah Lizee
Olympia, Wash., July 16 – JPMorgan Chase Financial Co. LLC priced $4.31 million of contingent coupon autocallable yield notes due July 15, 2021 linked to the SPDR S&P Retail ETF, the Communication Services Select Sector SPDR fund and the VanEck Vectors Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 13.67% per year if each ETF closes at or above its trigger value, 75% of its initial share price, on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial share price on any quarterly observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless any ETF finishes below its trigger value, in which case investors will have one-to-one exposure to the decline of the least-performing ETF.
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: | Contingent coupon autocallable yield notes
|
| Underlying ETFs: | SPDR S&P Retail ETF, Communication Services Select Sector SPDR fund and VanEck Vectors Semiconductor ETF
|
| Amount: | $4,311,000
|
| Maturity: | July 15, 2021
|
| Coupon: | 13.67% per year, payable quarterly if each ETF closes at or above trigger value on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below trigger value, in which case one-to-one exposure to decline of least-performing ETF
|
| Call: | Automatically at par if each ETF closes at or above initial share price on any quarterly observation date other than final one
|
| Initial share prices: | $43.16 for retail ETF, $51.24 for communication ETF and $114.25 for VanEck ETF
|
| Trigger values: | $32.37 for retail ETF, $38.43 for communication ETF and $85.6875 for VanEck ETF; 75% of initial share prices
|
| Pricing date: | July 12
|
| Settlement date: | July 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48132C4Q3
|
© 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.
