By Wendy Van Sickle
Columbus, Ohio, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $3.91 million of 0% contingent absolute return autocallable optimization securities due Oct. 12, 2018 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call return of 11.3% per year if Bank of America shares close at or above the initial share price on any observation date, which occurs every quarter.
If the notes are not called and Bank of America shares finish at or above the trigger price, 75% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will lose 1% for each 1% decline from the initial price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | Bank of America Corp. (Symbol: BAC)
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Amount: | $3,909,500
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Maturity: | Oct. 12, 2018
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, 1% loss for each 1% decline
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Call: | Automatically at par plus 11.3% per year if Bank of America shares close at or above initial share price on any observation date, which occurs every quarter
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Initial share price: | $16.22
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Trigger price: | $12.17, 75% of initial price
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Pricing date: | Oct. 6
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Settlement date: | Oct. 12
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 46646X159
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