By Susanna Moon
Chicago, May 30 – JPMorgan Chase Financial Co. LLC priced $2 million of callable range accrual securities due Nov. 25, 2019 linked to 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 5.7% for each day that the 10-year ICE swap rate is at or above the minimum level of 2.63%, payable quarterly.
The payout at maturity will be par unless the rate finishes below its barrier level, in which case investors will be fully exposed to the decline.
The notes are callable at par on any quarterly redemption date.
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: | Callable range accrual notes
|
| Underlyings: | 10-year U.S. dollar ICE swap rate
|
| Amount: | $1,235,000
|
| Maturity: | Nov. 25, 2019
|
| Coupon: | 5.7% annualized for each day that the 10-year ICE swap rate is at least 2.63%, payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par unless rate finishes below barrier level, in which case full exposure to decline
|
| Call option: | At par on any interest payment date beginning in May 2019
|
| Initial level: | 3.115%
|
| Barrier level: | 2.63%
|
| Pricing date: | May 22
|
| Settlement date: | May 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46647MRT2
|
|
|
|
|
© 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.
