By Wendy Van Sickle
Columbus, Ohio, April 30 – JPMorgan Chase Financial Co. LLC priced $1.93 million of autocallable contingent interest notes due April 29, 2021 tied to the least performing of the SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the SPDR Euro Stoxx 50 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.35% if each underlying asset closes at or above its 75% coupon barrier on the coupon review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any review date.
The payout at maturity will be par unless any underlier finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
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 assets: | S&P 500 ETF trust, iShares Russell 2000 ETF and SPDR Euro Stoxx 50 ETF
|
| Amount: | $1,925,000
|
| Maturity: | April 29, 2021
|
| Coupon: | 9.35% per year, payable quarterly if each asset closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each asset finishes at or above trigger value; otherwise, exposure to decline of least-performing asset from initial level
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial price on any review date
|
| Initial levels: | $158.06 for Russell, $292.23 for S&P and $37.99 for Stoxx
|
| Coupon barriers/triggers: | $118.545 for Russell, $219.1725 for S&P and $28.4925 for Stoxx; 75% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48132CEK5
|
|
|
© 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.
