By Susanna Moon
Chicago, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $1.31 million of 0% review notes due Oct. 12, 2020 linked to the Energy Select Sector SPDR fund and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 16.5% if each fund closes above its initial level on any annual call review date.
The payout at maturity will be par plus 10% unless either fund finishes below the 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.
J.P. Morgan Securities LLC is the agent.
The notes are guaranteed by JPMorgan Chase & Co.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying funds: | Energy Select Sector SPDR fund and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1.31 million
|
| Maturity: | Oct. 12, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 10% if each fund finishes at or above 60% trigger level, otherwise full exposure to any losses of worse performing fund
|
| Call: | At par plus an annualized premium of 16.5% if each fund closes at or above its initial level on any annual review date
|
| Initial levels: | $70.61 for energy fund, $38.33 for oil fund
|
| Trigger levels: | $42.366 for energy fund, $22.998 for oil fund; 60% of initial levels
|
| Pricing date: | Oct. 7
|
| Settlement date: | Oct. 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4%
|
| Cusip: | 46646EH21
|
|
|
|
|
© 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.
