Chicago, Dec. 18 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Dec. 2, 2020 linked to the least performing of the American Depositary Shares, each representing one preferred share of Banco Bradesco SA and the American Depository Shares, each representing one preferred share of of Itau Unibanco Holding SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent semiannual coupon at an annual rate of 13% if each stock closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on either May 27, 2020 or Nov. 27, 2020.
The payout at maturity will be par plus the final coupon unless either stock finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing stock from its initial level.
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: | Banco Bradesco SA and Itau Unibanco Holding SA
|
| Amount: | $500,000
|
| Maturity: | Dec. 2, 2020
|
| Coupon: | 13% annualized, payable semiannually if each underlying stock closes at or above barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either stock finishes below barrier level, in which case 1% loss for each 1% decline of worse performing stock from initial level
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on either May 27, 2020 or Nov. 27, 2020
|
| Initial levels: | $7.85 for BB and $8.16 for Itau
|
| Interest/barrier levels: | $5.495 for BB and $5.712 for Itau; 70% of initial levels
|
| Strike date: | Nov. 27
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.85%
|
| Cusip: | 48132HEK4
|
|
|
© 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.
