By William Gullotti
Buffalo, N.Y., April 19 – JPMorgan Chase Financial Co. LLC priced $5 million of autocallable contingent interest notes due May 1, 2023 linked to the common stock of Hibbett, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 10% if the stock closes at or above its 51% coupon barrier level on the relevant review date. Previously unpaid contingent interest payments, if any, will be automatically included whenever a payment is made.
If the stock closes at or above its initial level on any quarterly review date other than the final, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the final contingent interest payment if the stock finishes at or above its trigger price, 51% of its initial price.
Otherwise, investors will lose 1.96078% for every 1% decline below trigger price.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying stock: | Hibbett, Inc.
|
Amount: | $5 million
|
Maturity: | May 1, 2023
|
Coupon: | 10% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period; coupon payment events will automatically include any previously unpaid coupons
|
Price: | Par
|
Payout at maturity: | Par plus interest payment if stock finishes above trigger price; otherwise, lose 1.96078% for every 1% decline of the stock below 49%
|
Call: | At par plus interest payment if stock closes at or above initial level on quarterly review date other than the final
|
Initial price: | $45.04
|
Coupon barrier level: | $22.9704; 51% of initial price
|
Trigger level: | $22.9704; 51% of initial price
|
Strike date: | April 13
|
Pricing date: | April 14
|
Settlement date: | April 20
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1%
|
Cusip: | 48133FA88
|
|
© 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.