By Wendy Van Sickle
Columbus, Ohio, Dec. 22 – JPMorgan Chase Financial Co. LLC priced $1.02 million of callable contingent interest notes due Dec. 26, 2018 linked to the least performing of the S&P 500 Total Return index, the Euro Stoxx 50 Net Return index and the Russell 2000 Total Return index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.6% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes may be called at par plus the coupon in whole but not in part on any interest payment date except the final payment date.
If the notes have not been called, the payout at maturity will be par plus the coupon, unless any index finishes below its initial level and any index closes below the trigger level, 70% of its initial level, during the life of then notes, in which case investors will lose 1% for every 1% decline of the least-performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | S&P 500 Total Return index, Euro Stoxx 50 Net Return index and Russell 2000 Total Return index
|
| Amount: | $1,015,000
|
| Maturity: | Dec. 26, 2018
|
| Coupon: | Notes pay quarterly contingent coupon at annual rate of 8.6% if each index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below its initial level and any index closes below trigger level during life of notes, in which case 1% loss for every 1% decline of least-performing index from initial level
|
| Call: | Callable at par plus coupon on any quarterly review date other than final date
|
| Initial levels: | 5,242.285 for S&P, 7,613.836 for Russell and 7,257.42 for Stoxx
|
| Coupon barriers/triggers: | 3,669.5995 for S&P, 5,329.6852 for Russell and 5,080.194 for Stoxx; 70% of initial levels
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
|
|
| Cusip: | 48129HVY0
|
|
|
© 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.
