By Wendy Van Sickle
Columbus, Ohio, March 3 – JPMorgan Chase Financial Co. LLC priced $1 million of yield notes with contingent digital payment due May 29, 2020 linked to the common stock of Coherus BioSciences, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly at a rate of 0.75%, or an amount equal to 2.25% over the term of the notes.
The payout at maturity will be par plus 1% plus the interest payment if the final value is greater than the strike value.
If the final value is less than the strike value and the stock has never closed below 57.13622% of the strike value, the trigger level, during the life of the notes, the payout will be par plus the interest payment.
If the final value is less than the strike value and the stock ever closes below the trigger value, investors will be exposed to any decline in the value of the stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Yield notes with contingent digital payment
|
| Underlying stock: | Coherus BioSciences, Inc.
|
| Amount: | $1 million
|
| Maturity: | May 29, 2020
|
| Coupon: | 0.75%, payable monthly; equivalent to a rate of 2.25% over the term of the notes, a 9% annualized rate
|
| Price: | Par
|
| Payout at maturity: | Par plus 1% digital return plus coupon unless stock finishes below its strike value, in which case par plus coupon if stock has never closed below trigger and full exposure to any losses otherwise
|
| Strike value: | $21.51
|
| Trigger value: | $12.29, 57.13622% of the strike value
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.9%
|
| Cusip: | 48132HN65
|
|
|
© 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.
