Chicago, Feb. 25 – JPMorgan Chase Financial Co. LLC priced $727,000 of autocallable contingent interest notes due Feb. 4, 2021 linked to the least performing of the SPDR S&P biotech exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 13.4% per year if each ETF closes at or above its interest barrier value, 75% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each ETF closes at or above its initial share price on any quarterly review date.
If the notes have not been called, the payout at maturity will be par unless any ETF finishes below its 60% trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing ETF finishes below its initial share price.
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 ETFs: | SPDR S&P biotech ETF and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $727,000
|
| Maturity: | Feb. 4, 2021
|
| Coupon: | 13.4% per year, payable quarterly if each ETF closes at or above interest barrier value on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below trigger value on any day during the life of the notes, in which case 1% loss for every 1% that least-performing ETF finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial share price on any quarterly review date
|
| Initial share prices: | $90.39 for biotech ETF and $19.63 for oil ETF
|
| Interest barriers: | $67.7925 for biotech ETF and $14.7225 for oil ETF, 75% of initial levels
|
| Trigger values: | $54.234 for biotech ETF and $11.778 for oil ETF, or 60% of initial levels
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.725%
|
| Cusip: | 48132HWP3
|
|
|
© 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.
