New York, June 23 – JPMorgan Chase Financial Co. LLC priced $2.44 million of callable contingent interest notes due Feb. 21, 2024 linked to the common stock of 3M Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon equivalent to 8.76667% for the term, payable quarterly if the stock closes at or above the downside threshold, 65% of the initial level, on the valuation date for that period. The first two coupons, if payable, will pay at a rate of $32.875 per $1,000 principal amount. The final, if payable, will be $21.9167 per note.
The securities may be called at par on any quarterly determination date starting Sept. 21.
If the stock finishes at or above its 65% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the stock declines from initial level.
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: | Callable contingent interest notes
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Underlying stock: | 3M Co.
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Amount: | $2.44 million
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Maturity: | Feb. 21, 2024
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Coupon: | 8.76667% for the term, payable quarterly if closing price of shares is greater than or equal to downside threshold on valuation date for that period; first two coupons will pay $32.875 per note with the final coupon worth $21.9167
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Price: | Par
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Payout at maturity: | If stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial level
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Call option: | At par on any quarterly determination date starting Sept. 21
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Initial level: | $104.54
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Downside threshold: | $67.951, 65% of initial level
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Pricing date: | June 16
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Settlement date: | June 22
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48133XB47
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