By Wendy Van Sickle
Columbus, Ohio, March 1 – JPMorgan Chase Financial Co. LLC priced $2.48 million of step-up autocallable contingent buffered return enhanced notes due Feb. 28, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $1,000 plus an 12.5% annual call premium if each index closes at or above its call level on an annual review date other than the final date. The call level will be 102% of the initial level on the first review date and will step up by 2% per year to 108% on the fourth review date.
The payout at maturity will be par plus 1.5 times any gain of the lesser-performing index.
Investors will receive par if either index falls by up to 50% and will otherwise lose 1% for each 1% decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Issue: | Step-up autocallable contingent buffered return enhanced notes
|
| Underlying indexes: | Euro Stoxx 50 index and Russell 2000 index
|
| Amount: | $2,476,000
|
| Maturity: | Feb. 28, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any gain of the lesser-performing index; par if either index falls by up to 50%, otherwise 1% loss for each 1% decline of lesser-performing index
|
| Call: | Automatically called at par plus call premium of 12.5% per year if each index closes at or above its call level on an annual review date other than final date; call level will be 102% of initial level on first review date and will step up by 2% per year to 108% on fourth review date
|
| Initial values: | 3,441.46 for Stoxx, 1,549.186 for Russell
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.06316%
|
| Cusip: | 48129HZW0
|
|
|
© 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.
