By Sarah Lizee
Olympia, Wash., Aug. 5 – JPMorgan Chase Financial Co. LLC priced $459,000 of autocallable contingent interest notes due Feb. 4, 2021 linked to the least performing of the common stock of Eastman Chemical Co., Bunge Ltd. and Emerson Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11% per year plus any previously unpaid contingent interest payments if each stock closes at or above its trigger value, 60% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if each stock closes at or above its call value on any quarterly review date other than the final review date. The call value for each stock is 100% of its initial share price.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
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: | Eastman Chemical Co., Bunge Ltd. and Emerson Electric Co.
|
| Amount: | $459,000
|
| Maturity: | Feb. 4, 2021
|
| Coupon: | 6.4% per year, payable quarterly plus any previously unpaid contingent interest payments if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below trigger value, in which case 1% loss for every 1% that least-performing stock finishes below initial share price
|
| Call: | Automatically at par if each stock closes at or above call value on any quarterly review date other than final one; call value for each stock is 100% of initial share price
|
| Initial share prices: | $75.35 for Eastman, $58.43 for Bunge, $64.88 for Emerson
|
| Trigger values: | $45.21 for Eastman, $35.058 for Bunge, $38.928 for Emerson, or 60% of initial share prices
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.46%
|
| Cusip: | 48132CV34
|
© 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.
