By Taylor Fox
New York, Aug. 20 – JPMorgan Chase Financial Co. LLC priced $550,000 of contingent interest notes with contingent digital payment due Feb. 9, 2023 linked to the ordinary shares of Spotify Technology SA, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above its barrier level, 60% of the initial share price, on a quarterly review date, the notes will pay a coupon based on a 10% annual rate.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus the 10% contingent digital payment.
If the final share price is less than the initial share price but greater than or equal to the 60% barrier level, the payout will be par. If the final share price is less than the barrier level, investors will be exposed to the decline of the stock from its initial share price.
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 interest notes with contingent digital payment
|
| Underlying stock: | Spotify Technology SA
|
| Amount: | $550,000
|
| Maturity: | Feb. 9, 2023
|
| Coupon: | 10% per year, payable quarterly if stock closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to initial share price, par plus the 10% contingent digital return; if final share price is less than initial share price but greater than or equal to barrier level, par; if final share price is less than barrier level, exposure to decline of stock from initial share price
|
| Initial share price: | $314.70
|
| Barrier level: | $188.82, 60% of initial share price
|
| Pricing date: | Feb. 4
|
| Settlement date: | Feb. 9
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132RYP9
|
© 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.
