By Wendy Van Sickle
Columbus, Ohio, May 19 – JPMorgan Chase Financial Co. LLC priced $1.01 million of autocallable contingent interest notes due May 2, 2022 linked to the class A common stock of DraftKings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above its 70% coupon barrier on a quarterly review date, the notes will pay a contingent quarterly coupon at an annual rate of 22% plus any previously unpaid contingent coupons for any prior review dates.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless the stock finishes below 70% trigger level, in which case investors will lose 1% for every 1% decline.
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 stock: | DraftKings Inc.
|
| Amount: | $1.01 million
|
| Maturity: | May 2, 2022
|
| Coupon: | 22% per year, payable quarterly – plus any previously unpaid contingent coupons – if stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will lose 1% for every 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level any quarterly review date other than final date
|
| Initial level: | $59.13
|
| Coupon barrier level: | $41.391, 70% of initial level
|
| Trigger level: | $41.391, 70% of initial level
|
| Strike date: | April 27
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.3%
|
| Cusip: | 48132T3G9
|
© 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.
