By Sarah Lizee
Olympia, Wash., April 17 – JPMorgan Chase Financial Co. LLC priced $4.61 million of autocallable contingent interest notes due April 21, 2022 linked to the least performing of the common stocks of Cigna Corp. and Prudential Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 10% if each stock closes at or above its trigger value, 55% of its initial share price, on the review date for that quarter.
The notes will be called at par if each stock closes at or above its initial share price on any review date other than the first and final review dates.
The payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the least-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Cigna Corp. and Prudential Financial, Inc.
|
| Amount: | $4,605,000
|
| Maturity: | April 21, 2022
|
| Coupon: | 10% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any review date other than first and final review dates
|
| Initial share prices: | $163.82 for Cigna, $101.34 for Prudential
|
| Trigger values: | $90.101 for Cigna, $55.737 for Prudential; 55% of initial share prices
|
| Pricing date: | April 15
|
| Settlement date: | April 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48132CAQ6
|
© 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.
