By Taylor Fox
New York, Aug. 20 – JPMorgan Chase Financial Co. LLC priced $1.63 million of autocallable contingent interest notes due Feb. 24, 2022 linked to the common stock of Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 18.6% if the stock closes above its 75% coupon barrier price on the related review date. Previously unpaid coupons will also be paid.
If the stock closes above its initial price on any quarterly review date, the notes will be automatically called at par plus the contingent interest payment.
If the final price of the stock is at or above its 75% trigger level, the payout at maturity will be par plus any interest due.
Otherwise, investors will lose 1% for each 1% decline in the stock.
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: | Qualcomm Inc.
|
Amount: | $1,625,000
|
Maturity: | Feb. 24, 2022
|
Coupon: | 18.6% annual rate, payable quarterly, if stock closes at or above coupon barrier on review date for that period; previously unpaid coupons will also be paid
|
Price: | Par
|
Payout at maturity: | Par plus interest payment if stock finishes at or above its trigger level; otherwise, full exposure to losses of stock
|
Call: | At par plus interest payment if stock finishes above initial price on any quarterly review date
|
Initial price: | $147.97
|
Coupon barrier level: | $110.9775, 75% of initial price
|
Trigger level: | $110.9775, 75% of initial price
|
Pricing date: | Feb. 5
|
Settlement date: | Feb. 10
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1%
|
Cusip: | 48132RYX2
|
|
© 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.