By Wendy Van Sickle
Columbus, Ohio, Nov. 17 – JPMorgan Chase Financial Co. LLC priced $6.5 million of contingent income autocallable securities due Sept. 26, 2025 linked to the common stocks of Lockheed Martin Corp., Northrop Grumman Corp. and Raytheon Technologies Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.35% per year, paid quarterly, if each underlying stock closes at or above its 65% coupon barrier every day that quarter.
The securities will be called automatically at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date after six months.
At maturity the payout will be par unless the worst performing stock closes below its 55% downside threshold level in which case investors will be fully exposed to the decline of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC as a dealer.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Lockheed Martin Corp., Northrop Grumman Corp. and Raytheon Technologies Corp.
|
| Amount: | $6.5 million
|
| Maturity: | Sept. 26, 2025
|
| Coupon: | 13.35%, paid quarterly, if each underlying stock closes at or above its 65% downside threshold every day that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing stock
|
| Call: | Automatically at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date after six months
|
| Initial levels: | $478.82 for Northrop Grumman, $82.03 for Raytheon Technologies, $413.07 for Lockheed Martin
|
| Coupon barriers: | $311.233 for Northrop Grumman, $53.3195 for Raytheon Technologies, $268.4955 for Lockheed Martin, 65% of initial levels
|
| Downside thresholds: | $263.351 for Northrop Grumman, $45.1165 for Raytheon Technologies, $227.188 for Lockheed Martin, 55% of initial levels
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 28
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as a dealer
|
| Fees: | 2.5%
|
| Cusip: | 48133J867
|
|
|
|
|
© 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.
