By Kiku Steinfeld
Chicago, June 1 – JPMorgan Chase Financial Co. LLC priced $175,000 of autocallable contingent interest notes due May 9, 2024 linked to the least performing of the American Depository shares of Alibaba Group Holding Ltd., Baidu, Inc. and JD.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.3% if each stock closes at or above its 60% coupon barrier on the review date for that quarter, in which case any previously unpaid coupons will also be paid.
The notes will be called at par if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, 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 assets: | Alibaba Group Holding Ltd., Baidu, Inc. and JD.com, Inc.
|
Amount: | $175,000
|
Maturity: | May 9, 2024
|
Coupon: | 10.3% annualized, payable quarterly plus any previously unpaid coupons if each stock closes at or above 60% coupon barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
Call: | At par if each stock closes at or above initial level on any review date other than final date
|
Initial levels: | $226.78 for Alibaba, $195.63 for Baidu, $75.54 for JD
|
Coupon barriers/trigger levels: | $136.068 for Alibaba, $117.378 for Baidu, $45.324 for JD; 60% of initial levels
|
Strike date: | May 5
|
Pricing date: | May 6
|
Settlement date: | May 11
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.5%
|
Cusip: | 48132TM37
|
|
© 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.