By Angela McDaniels
Tacoma, Wash., Aug. 7 – JPMorgan Chase Financial Co. LLC priced $4.5 million of callable contingent interest notes due Feb. 6, 2020 linked to the least 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 10% if each index closes at or above its trigger value, 75% of its initial level, on each day during that quarter.
The notes are callable at par on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 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.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $4.5 million
|
| Maturity: | Feb. 6, 2020
|
| Contingent coupon: | 10% per year, payable quarterly if each index closes at or above trigger value on each day during that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Callable at par on any interest payment date other than final one
|
| Initial index levels: | 2,472.16 for S&P 500, 1,405.229 for Russell 2000 and 3,507.41 for Euro Stoxx 50 (equal to closing levels on Aug. 3 for S&P 500 and Russell 2000 and closing level on Aug. 4 for Euro Stoxx 50)
|
| Trigger values: | 1,854.12 for S&P 500, 1,053.92175 for Russell 2000 and 2,630.5575 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.3%
|
| Cusip: | 46647MG49
|
© 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.
