By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – JPMorgan Chase Financial Co. LLC priced $3.07 million of autocallable contingent interest notes due Sept. 2, 2020 linked to the least performing of the common stocks of AT&T Inc., Verizon Communications Inc. and Sprint Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11% if each stock closes at or above its 45% coupon barrier on review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first, second, third, fourth, fifth and final dates.
The payout at maturity will be par unless any stock finishes below its 45% trigger, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | AT&T Inc., Verizon Communications Inc. and Sprint Corp.
|
| Amount: | $3.07 million
|
| Maturity: | Sept. 2, 2020
|
| Coupon: | 11% annualized, payable monthly if each stock closes at or above 45% coupon barrier on review date that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than the first, second, third, fourth, fifth and final dates
|
| Initial levels: | $37.94 for AT&T, $48.61 for Verizon and $8.29 for Sprint
|
| Triggers: | $17.073 for AT&T, $21.8745 for Verizon and $3.7305 for Sprint; 45% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.525%
|
| Cusip: | 46647ML27
|
|
|
© 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.
