Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
JPMorgan plans contingent interest autocallables tied to indexes
By Wendy Van Sickle
Columbus, Ohio, March 27 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due July 5, 2018 linked to the lesser performing of the S&P 500 index, the Euro Stoxx 50 index and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.25% if each index closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any review date beginning April 3, 2018.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines from its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price March 30.
The Cusip number is 46646QNL5.
© 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.