By Wendy Van Sickle
Columbus, Ohio, July 6 – JPMorgan Chase Financial Co. LLC priced $1.9 million of step-up autocallable contingent buffered return enhanced notes due June 30, 2022 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $1,000 plus an 8% call premium if each index closes at or above its call level on an annual review date. The call level will be 104% of the initial level on the first review date and will step up by 4% a year to 116% on the fourth review date.
The payout at maturity will be par plus 1.1 times any gain of the lesser performing index.
Investors will receive par if the lesser performing index falls by up to 50% and will be fully exposed to losses if the lesser performing index falls by more than 50%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Step-up autocallable contingent buffered return enhanced notes
|
Underlying indexes: | Russell 2000 index and S&P 500 index
|
Amount: | $1,898,000
|
Maturity: | June 30, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 1.1 times any gain of the lesser performing index; par if the lesser performing index falls by up to 50%, full exposure to decline of lesser performing index beyond 50%
|
Call: | Automatically called at par plus call premium of 8% per year if each index closes at or above its call level on an annual review date; call level will be 104% of the initial level on the first review date and will step up by 4% a year to 116% on the fourth review date
|
Initial levels: | 1,403.522 for Russell 2000 and 2,419.38 for S&P 500
|
Pricing date: | June 27
|
Settlement date: | June 30
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 4.11578%
|
Cusip: | 46647MFZ1
|
|
© 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.