Published on 11/29/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.15 million contingent interest autocallables linked to four stocks
By Angela McDaniels
Tacoma, Wash., Nov. 29 – JPMorgan Chase Financial Co. LLC priced $5.15 million of autocallable contingent interest notes due Nov. 29, 2019 linked to least performing of the class B common stock of Berkshire Hathaway Inc. and the common shares of Aetna Inc., Prudential Financial, Inc. and Travelers Cos., Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes pay a contingent coupon at an annual rate of 10.5% if each stock closes at or above its barrier price, 50% of its initial share price, on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any review date other than the first, second and final dates.
The payout at maturity will be par unless any stock finishes below its barrier price, in which case investors will be fully exposed to the decline of the worst-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: | Aetna Inc. (Symbol: AET), Berkshire Hathaway Inc. (Symbol: BRK.B), Prudential Financial, Inc. (Symbol: PRU) and Travelers Cos., Inc. (Symbol: TRV)
|
Amount: | $5.15 million
|
Maturity: | Nov. 29, 2019
|
Coupon: | 10.5% per year, payable monthly if each stock closes at or above barrier price on review date for that month
|
Price: | Par
|
Payout at maturity: | Par plus contingent coupon if each stock finishes at or above barrier price; otherwise, exposure to decline of worst-performing stock from initial share price
|
Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than first, second and final review dates
|
Initial share prices: | $158.18 for Berkshire Hathaway, $129.57 for Aetna, $100.79 for Prudential and $113.45 for Travelers
|
Barrier prices: | $79.09 for Berkshire Hathaway, $64.785 for Aetna, $50.395 for Prudential and $56.725 for Travelers, or 50% of initial share prices
|
Pricing date: | Nov. 25
|
Settlement date: | Nov. 30
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 3.5%
|
Cusip: | 46646QBE4
|
© 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.