Chicago, Dec. 1 – JPMorgan Chase Financial Co. LLC priced $1.3 million of autocallable contingent interest notes due March 21, 2024 linked to the common stocks of Diamondback Energy, Inc. and Devon Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23.65%, paid quarterly, if each underlying stock closes at or above its 60% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting Sept. 19 and on any subsequent quarterly review date if each stock closes at or above its initial level.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level in which case investors will be fully exposed to the decline 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Diamondback Energy, Inc. and Devon Energy Corp.
|
| Amount: | $1,295,000
|
| Maturity: | March 21, 2024
|
| Coupon: | 23.65%, paid quarterly, if each underlying stock closes at or above its 60% trigger level on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
|
| Call: | Automatically at par starting Sept. 19 and on any subsequent quarterly review date if each stock closes at or above its initial level
|
| Initial levels: | $131.45 for Diamondback, $58.27 for Devon
|
| Trigger levels: | $78.87 for Diamondback, $34.962 for Devon, 60% of initial levels
|
| Pricing date: | March 18
|
| Settlement date: | March 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48133D3N8
|
|
|
© 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.
