JPMorgan plans callable contingent interest notes tied to index, ETF

By Sarah Lizee

Olympia, Wash., Nov. 13 – JPMorgan Chase Financial Co. LLC plans to price 12.1% callable contingent interest notes due Nov. 23, 2021 linked to the lesser performing of the Nasdaq-100 index and the SPDR S&P Oil & Gas Exploration & Production ETF, 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 12.1% if both assets close at or above their interest barriers, 70% of their initial levels, on the review date for that period. The exact contingent interest rate will be set at pricing.

JPMorgan may call the notes in whole at par on any interest payment date other than the final one.

If the notes have not been called, the payout at maturity will be par plus the final interest payment unless either asset finishes below its 65% trigger value, in which case investors will lose 1% for each 1% decline of the lesser-performing asset from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes will price on Nov. 16 and settle on Nov. 26.

The Cusip number is 48130WCG4.

© 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.