By Wendy Van Sickle
Columbus, Ohio, Sept. 11 – JPMorgan Chase Financial Co. LLC priced $1.21 million of callable contingent interest notes due Sept. 1, 2022 linked to the least performing of the Euro Stoxx 50 index, the SPDR S&P Oil & Gas Exploration & Production ETF and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each underlying index or fund closes at or above its 60% coupon barrier on the review date for that month.
The notes will be callable at par on any quarterly optional call date after one year.
The payout at maturity will be par unless any underlying component finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
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: | Autocallable contingent interest notes
|
Underlying assets: | Euro Stoxx 50 index, SPDR S&P Oil & Gas Exploration & Production ETF and SPDR S&P Bank ETF
|
Amount: | $1,205,000
|
Maturity: | Sept. 1, 2022
|
Coupon: | 7.5% annualized, payable monthly if each underlying component closes at or above 60% coupon barrier on review date that month
|
Price: | Par
|
Payout at maturity: | Par plus contingent coupon unless any component finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index or fund
|
Call: | Callable at par on any quarterly optional call date after one year
|
Initial levels: | 3,456.13 for Stoxx, $49.47 for Bank and $42.39 for Oil & Gas
|
Coupon barrier/triggers: | 2,073.678 for Stoxx, $29.682 for Bank and $25.434 for Oil & Gas; 60% of initial levels
|
Pricing date: | Aug. 29
|
Settlement date: | Sept. 4
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 3.75%
|
Cusip: | 48130UEH4
|
|
© 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.