By William Gullotti
Buffalo, N.Y., Aug. 16 – JPMorgan Chase Financial Co. LLC priced $4.53 million of 0% capped in-Gears due Oct. 18, 2028 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index’s final value is greater than or equal to 140% of its initial level, the payout at maturity will be par plus 62.3% plus 200% of any index gain over 40%, subject to a maximum payout of par plus 102.3%
If the index’s final value is less than 140% of its initial level but greater than or equal to 116% of its initial level, the payout will be par plus 60% plus 0.09583 times any index gain over 16%.
If the index’s final value is less than 116% of its initial level but greater than or equal to 92% of its initial level, the payout will be par plus 2.5 times the quantity of the return plus 8%.
If the index declines more than 8% but finishes at or above 72% of initial level, investors will lose 1.4% for every 1% decline beyond 8%.
Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped in-Gears
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $4,532,000
|
| Maturity: | Oct. 18, 2028
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index’s final value is greater than or equal to 140% of its initial level, par plus 62.3% plus 200% of any index gain over 40%, subject to a maximum payout of par plus 102.3%; if the index’s final value is less than 140% of its initial level but greater than or equal to 116% of its initial level, par plus 60% plus 0.09583 times any index gain over 16%; if the index’s final value is less than 116% of its initial level but greater than or equal to 92% of its initial level, par plus 2.5 times the quantity of the return plus 8%; the index declines more than 8% but finishes at or above 72% of initial level, investors will lose 1.4% for every 1% decline beyond 8%; otherwise, 1% loss for every 1% decline from initial level
|
| Initial level: | Arithmetic average of index closing levels from July 21 to Aug. 26
|
| Final value: | Arithmetic average of index closing levels from July 18, 2028 to Oct. 13, 2028
|
| Upper downside: | 92% of initial level
|
| Lower downside: | 72% of initial level
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
|
| Fees: | 0.25%
|
| Cusip: | 48133H812
|
|
|
© 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.
