New Issue: JPMorgan sells $169,000 bearish knock-out notes due 2022 on S&P 500

By Sarah Lizee

Olympia, Wash., Aug. 7 – JPMorgan Chase Financial Co. LLC priced $169,000 of 0% bearish knock-out notes due July 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the index ends below its initial level but at or above the knock-out level of 72.5% of its initial level, the payout at maturity will be par plus the absolute value of the index return. If the index finishes below 72.5% of its initial level, the payout will be par plus 5%. If the index gains or is flat the payout will be par.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Bearish knock-out notes
Underlying index:	S&P 500 index
Amount:	$169,000
Maturity:	July 29, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index ends below initial level but at or above knock-out level of 72.5% of its initial level, par plus absolute value of index return; if index falls by more than 27.5%, par plus 5%; if index gains or is flat, par
Initial level:	2,980.38
Knock-out level:	2,160.7755, 72.5% of initial level
Pricing date:	July 31
Settlement date:	Aug. 5
Agent:	J.P. Morgan Securities LLC
Fees:	0.2574%
Cusip:	48132CYS6

© 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.