By Susanna Moon
Chicago, July 8 - JPMorgan Chase & Co. priced $1.62 million of callable range accrual notes due July 10, 2028 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7% for each day that the index closes at or above the 1,185.70 strike level and six-month Libor is 6% or less. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be redeemable at par on any interest payment date beginning July 10, 2018.
J.P. Morgan Securities LLC is the agent with distribution through Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,615,000
|
| Maturity: | July 10, 2028
|
| Coupon: | 7% for each day that index closes at or above reference level and six-month Libor is 6% or less; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning July 10, 2018
|
| Index strike level: | 1,185.70
|
| Pricing date: | July 3
|
| Settlement date: | July 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2%
|
| Cusip: | 48126D5L9
|
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