By Sarah Lizee
Olympia, Wash., Dec. 24 – JPMorgan Chase Financial Co. LLC priced $206,000 of autocallable contingent interest notes due March 12, 2021 linked to General Motors Co. common stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.7% if the stock closes at or above the 75% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below the 75% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying asset: | General Motors Co.
|
| Amount: | $206,000
|
| Maturity: | March 12, 2021
|
| Coupon: | 8.7%, payable quarterly if stock closes at or above 75% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below the trigger level, in which case investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if shares close at or above initial price on quarterly review date other than first and final dates
|
| Initial level: | $35.38
|
| Trigger level: | $26.535, 75% of the initial level
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132HEH1
|
|
|
© 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.
