By Marisa Wong
Morgantown, W.Va., Aug. 1 – JPMorgan Chase Financial Co. LLC priced $2.22 million of autocallable contingent interest notes due Oct. 31, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,222,000
|
| Maturity: | Oct. 31, 2017
|
| Coupon: | 7.25% annualized, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls below trigger level, in which case full exposure to any losses of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final dates
|
| Initial levels: | 2,169.18 for S&P and 1,216.859 for Russell
|
| Barrier/trigger levels: | 1,518.426 for S&P and 851.8013 for Russell; 70% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 46646EMF6
|
|
|
© 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.
