Chicago, April 14 – JPMorgan Chase Financial Co. LLC priced $1.33 million of autocallable contingent interest notes due April 12, 2022 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon of 24% per year plus any previously unpaid coupons if the fund closes at or above its interest barrier, 80% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon and any previously unpaid coupons if the fund closes at or above its initial level on any quarterly review date other than the first and final ones.
If the notes have not been called, the payout at maturity will be par plus the final coupon and any previously unpaid coupons, if any, unless the fund finishes below its 80% trigger value, in which case investors will lose 1% for every 1% that the fund finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1,325,000
|
| Maturity: | April 12, 2022
|
| Coupon: | 24% annualized, payable quarterly, including previously unpaid coupons, if fund closes at or above 80% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon and previously unpaid coupons unless fund finishes below 80% trigger, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon and previously unpaid coupons if fund closes at or above initial level on any review date other than first and final dates
|
| Initial level: | $31.41
|
| Coupon/trigger level: | $25.128, 80% of initial level
|
| Strike date: | April 6
|
| Pricing date: | April 7
|
| Settlement date: | April 13
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132KRZ0
|
|
|
© 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.
