By Susanna Moon
Chicago, April 26 – JPMorgan Chase Financial Co. LLC priced $1.35 million of autocallable contingent interest notes due April 23, 2020 linked to the least performing of the class C capital stock of Alphabet Inc. and the common stocks of Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if each stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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 stock: | Alphabet Inc. (Symbol: GOOG), Apple Inc. (Symbol: AAPL) and Microsoft Corp. (Symbol: MSFT)
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Amount: | $1,345,000
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Maturity: | April 23, 2020
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Coupon: | 11% annualized, payable quarterly if each stock closes at or above 65% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any stock closes below 65% trigger, in which case 1% loss for each 1% decline of worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than the final date
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Initial levels: | $1,072.96 for Alphabet, $165.72 for Apple and $95.00 for Microsoft
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Trigger levels: | $697.424 for Alphabet, $107.718 for Apple and $61.75 for Microsoft, 65% of initial levels
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Pricing date: | April 20
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Settlement date: | April 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.002%
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Cusip: | 48129MA55
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