By Susanna Moon
Chicago, June 27 – JPMorgan Chase Financial Co. LLC priced $2.51 million of 0% step up autocallable buffered equity notes due June 26, 2025 linked to the lesser performing of the Consumer Staples Select Sector SPDR Fund and the Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10% if each underlying fund closes at or above its call level on any annual review date other than the final date. The call level will be 102.3% of the initial level on the first review date, stepping up by 230 basis points on each subsequent review date.
If each underlying fund finishes above its initial level, the payout at maturity will be par the gain of the worse performing asset.
If either asset falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing fund beyond the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Step-up autocallable buffered equity notes
|
| Underlying funds: | Consumer Staples Select Sector SPDR Fund and Health Care Select Sector SPDR Fund
|
| Amount: | $2,512,000
|
| Maturity: | June 26, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 10% per year if each fund closes at or above its call level on any annual review date beginning June 26, 2019 other than final date; call level will be 102.3%, stepping up by 230 bps on each subsequent annual review date to final level of 112% on the fourth review date
|
| Payout at maturity: | If each asset gains, par plus return of worse performing asset; if either asset falls by up to 20%, par; otherwise, 1% loss for each 1% decline of worse performing fund beyond 20%
|
| Initial levels: | $51.63 for consumer staples fund and $84.93 for health care fund
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.4%
|
| Cusip: | 48129MZQ2
|
|
|
|
|
© 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.
