By Kiku Steinfeld
Chicago, Jan. 20 – JPMorgan Chase Financial Co. LLC priced $870,000 of autocallable contingent interest notes due April 19, 2021 linked to the class A common stock of Facebook, Inc., 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 7.65% if Facebook shares close at or above the trigger level, 77% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Facebook shares close at or above the initial share price on any review date other than the first and final review dates.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the stock’s decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $870,000
|
| Maturity: | April 19, 2021
|
| Coupon: | Each quarter, notes pay contingent coupon at annual rate of 7.65% if Facebook shares close at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent interest payment unless final share price is less than trigger level, in which case full exposure to stock’s decline
|
| Call: | Automatically at par plus contingent coupon if Facebook shares close at or above initial share price on any review date other than first and final review dates
|
| Initial share price: | $221.15
|
| Trigger level: | $170.2855, 77% of initial share price
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132HRH7
|
© 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.
