By Wendy Van Sickle
Columbus, Ohio, March 23 – JPMorgan Chase Financial Co. LLC priced $4.06 million of contingent income autocallable securities due March 21, 2019 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if index closes at or above the 65% downside threshold on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial price on any determination date other than the final one.
The payout at maturity will be par plus the final coupon unless the index finishes below the 65% downside threshold, in which case investors be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as distributor.
The notes are guaranteed by JPMorgan Chase & Co.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Euro Stoxx Banks
|
| Amount: | $4,059,000
|
| Maturity: | March 21, 2019
|
| Coupon: | 10% per year, payable quarterly if index closes at or above downside threshold on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any determination date other than final date
|
| Initial level: | 125.85
|
| Downside threshold: | 81.8025, 65% of initial level
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Distributer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 46646QX91
|
|
|
© 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.
