By Sarah Lizee
Olympia, Wash., April 28 – JPMorgan Chase Financial Co. LLC priced $2 million of autocallable contingent interest notes due Oct. 25, 2022 tied to the least performing of the MSCI Emerging Markets index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 10.75% per year if each index closes at or above its interest barrier level, 60% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first through fifth and final review dates.
If the notes have not been called, the payout at maturity will be par plus any coupon due unless any index finishes below the 60% trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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 indexes: | MSCI Emerging Markets index, Euro Stoxx 50 index and Russell 2000 index
|
| Amount: | $2 million
|
| Maturity: | Oct. 25, 2022
|
| Coupon: | 10.75% per year, payable monthly if each index closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any index finishes below the trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first through fifth and final review dates
|
| Initial levels: | 899.33 for EM, 2,823.16 for S&P and 2,909.50 for Stoxx
|
| Interest barriers: | 539.598 for EM, 1,693.896 for S&P and 1,745.70 for Stoxx; 60% of initial levels
|
| Trigger levels: | 539.598 for EM, 1,693.896 for S&P and 1,745.70 for Stoxx; 60% of initial levels
|
| Pricing date: | April 21
|
| Settlement date: | April 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48132KWN1
|
|
|
© 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.
