By Tali Rackner
Minneapolis, April 16 – JPMorgan Chase Financial Co. LLC priced $3.22 million of callable contingent interest notes due April 9, 2020 linked to the S&P 500 index, the Euro Stoxx Banks index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 11.25% if each underlying asset closes at or above its 70% interest barrier on the review date for that quarter.
The notes may be called in whole but not in part on any interest payment date other than the first, second and final dates.
The payout at maturity will be par unless any asset finishes below its 70% trigger level, in which case investors will lose 1% for each 1% that the least-performing asset is less than its initial level.
The final levels will be the average of the closing levels for the five days ending April 6, 2020.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Callable contingent interest notes
|
Underlying assets: | S&P 500 index, Euro Stoxx Banks index and iShares MSCI Emerging Markets ETF
|
Amount: | $3,215,000
|
Maturity: | April 9, 2020
|
Coupon: | 11.25% annualized, payable quarterly if each asset closes at or above 70% interest barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless any asset finishes below 70% trigger, in which case 1% loss for each 1% decline
|
Call: | Callable at par on any interest payment date other than first, second and final dates
|
Initial levels: | 2,604.47 for S&P, 126.22 for Euro Stoxx, $47.08 for ETF
|
Interest barrier/trigger level: | 1,823.129 for S&P, 88.354 for Euro Stoxx, $32.956 for ETF; 70% of initial levels
|
Pricing date: | April 6
|
Settlement date: | April 11
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.5%
|
Cusip: | 48129MLY0
|
|
|
© 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.