By Wendy Van Sickle
Columbus, Ohio, Sept. 18 – JPMorgan Chase Financial Co. LLC priced $9.28 million of autocallable contingent interest notes due March 19, 2021 tied to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its trigger value, 70% of its initial level, any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying indexes: | Russell 2000 index and S&P 500 index
|
Amount: | $9,277,000
|
Maturity: | March 19, 2021
|
Coupon: | 7% per year, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below its trigger value during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other final one
|
Initial levels: | 1,584.597 for Russell and 2,997.96 for S&P
|
Interest barriers: | 1,109.2179 for Russell and 2,098.572 for S&P; 70% of initial levels
|
Trigger values: | 1,109.2179 for Russell and 2,098.572 for S&P; 70% of initial levels
|
Pricing date: | Sept. 16
|
Settlement date: | Sept. 19
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.04731%
|
Cusip: | 48132FGV2
|
|
© 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.