By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – JPMorgan Chase Financial Co. LLC priced $12.99 million of contingent income callable securities due Sept. 26, 2018 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.15% if each index closes at or above its downside threshold level, 60% of its initial index level, every day that quarter.
The notes are callable at par on any quarterly determination date other than the first and final dates.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon, if applicable. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent income callable securities
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Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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Amount: | $12.99 million
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Maturity: | Sept. 26, 2018
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Coupon: | 8.15% per year, payable quarterly if each index closes at or above downside threshold level every day that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon, if applicable; if final level of any index is less than downside threshold level, full exposure to decline of lowest-performing index
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Call option: | At par on any quarterly determination date other than the first and final dates
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Initial index levels: | 2,982.18 for Euro Stoxx 50, 1,245.040 for Russell 2000 and 2,163.12 for S&P 500
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Downside thresholds: | 1,789.308 for Euro Stoxx 50, 747.024 for Russell 2000 and 1,297.872 for S&P 500; 60% of initial levels
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Pricing date: | Sept. 21
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Settlement date: | Sept. 26
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Agent: | J.P. Morgan Securities LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 2%
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Cusip: | 46646ED25
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