By William Gullotti
Buffalo, N.Y., April 20 – JPMorgan Chase Financial Co. LLC priced $1.08 million of autocallable contingent interest notes due April 16, 2027 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent quarterly interest at an annual rate of 12% if the index closes at or above its 67.5% interest barrier on the related review date.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly review date after one year.
The payout at maturity will be par unless the index finishes below the 60% trigger level, in which case investors will be fully exposed to the decline of the index from its initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying index: | MerQube US Large-Cap Vol Advantage index
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Amount: | $1,084,000
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Maturity: | April 16, 2027
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Coupon: | 12% annual rate, payable quarterly if the index closes at or above its interest barrier on the related quarterly review date
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Price: | Par
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Payout at maturity: | Par unless the index finishes below trigger level, in which case investors will lose 1% for every 1% decline from the index’s initial level
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Call: | Automatically at par plus the contingent interest payment if the index closes at or above its initial level on any quarterly review date after one year
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Initial level: | 3,139.99
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Interest barrier: | 2,119.49325; 67.5% of initial level
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Trigger level: | 1,883.994; 60% of initial level
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Pricing date: | April 13
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Settlement date: | April 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 5%
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Cusip: | 48133FBZ7
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