By Kiku Steinfeld
Chicago, Oct. 15 – JPMorgan Chase Financial Co. LLC priced $1.42 million of autocallable contingent interest notes due Aug. 10, 2022 linked to the common shares of Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon plus any previously unpaid coupons at an annual rate of 15.85% if the stock closes at or above its 85% coupon barrier on the review date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below 85% trigger level, in which case investors will lose 1% for every 1% decline.
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: | Autocallable contingent interest notes
|
Underlying stock: | Qualcomm Inc.
|
Amount: | $1,424,000
|
Maturity: | Aug. 10, 2022
|
Coupon: | 15.85% annualized, payable quarterly plus any previously unpaid coupons if stock closes at or above coupon barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will lose 1% for every 1% decline
|
Call: | At par if stock closes at or above initial level any review date other than final date
|
Initial level: | $144.88
|
Final level: | Average closing price on five consecutive trading days ending Aug. 5, 2022
|
Coupon barrier level: | $123.148, 85% of initial level
|
Trigger level: | $123.148, 85% of initial level
|
Pricing date: | July 23
|
Settlement date: | July 28
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1%
|
Cusip: | 48132U5N9
|
|
© 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.