By Marisa Wong
Los Angeles, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due Jan. 24, 2023 linked to the U.S. Global Jets 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 13.25% if the fund closes at or above its interest barrier level, 60% of its initial level, on the related quarterly review date.
The payout at maturity will be par unless the fund finishes below its 60% trigger level, in which case investors will be fully exposed to any ETF decline.
The notes will be callable in whole at par on any quarterly interest payment date other than the first three and the final payment dates.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying fund: | U.S. Global Jets ETF
|
| Amount: | $1 million
|
| Maturity: | Jan. 24, 2023
|
| Coupon: | 13.25% annualized, payable each quarter that fund closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless fund falls below trigger value, in which case full exposure to losses
|
| Call: | In whole at par on any quarterly interest payment date other than the first, second, third and final payment dates
|
| Initial value: | $22.28
|
| Coupon barrier: | $13.368, 60% of initial value
|
| Trigger value: | $13.368, 60% of initial value
|
| Strike date: | Jan. 15
|
| Pricing date: | Jan. 19
|
| Settlement date: | Jan. 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132RLH1
|
© 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.
