JPMorgan to sell callable contingent interest notes on indexes, fund

By Devika Patel

Knoxville, Tenn., Aug. 8 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due Aug. 16, 2021 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the PowerShares QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon if each underlying closes at or above its interest barrier, 60% of its initial level, on the review date for that quarter. The contingent interest rate is expected to be at least 5.3% and will be set at pricing.

The notes will be callable in whole but not in part at par plus any contingent coupon on any interest payment date other than the final one beginning on Aug. 14, 2018.

If the notes have not been called, the payout at maturity will be par plus the final interest payment unless any underlying finishes below its trigger value, 60% of its initial level, in which case investors will lose 1% for each 1% decline of the worst-performing underlying.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 46647MJ53) will price on Aug. 7 and settle on Aug. 10.

© 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.