By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – JPMorgan Chase Financial Co. LLC priced $5 million of callable range accrual securities due Oct. 16, 2035 linked to the 30-year U.S. dollar ICE swap rate, the two-year U.S. dollar ICE swap rate and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The interest rate is 7% for the first year. After that, interest will accrue at an annualized rate of 7% for each day the 30-year ICE swap rate is greater than the two-year ICE swap rate and the index closes at or above 65% of its initial level.
The payout at maturity will be par unless the index finishes below its barrier level, 50% of its initial level, in which case investors will be fully exposed to the decline of the index.
After one year, the notes are callable at par plus accrued interest on any quarterly redemption date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable range accrual notes
|
| Underlyings: | 30-year U.S. dollar ICE swap rate, two-year U.S. dollar ICE swap rate, S&P 500 index
|
| Amount: | $5 million
|
| Maturity: | Oct. 16, 2035
|
| Coupon: | 7% for first year; after that, 7% for each day the 30-year ICE swap rate is greater thab two-year ICE swap rate and index closes at or above 65% of its initial level; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par unless index finishes below barrier level, in which case full exposure to decline of index
|
| Call option: | After one year, at par on any interest payment date
|
| Initial index level: | 3,446.83
|
| Barrier level: | 1,723.415; 50% of initial level
|
| Pricing date: | Oct. 9
|
| Settlement date: | Oct. 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48130UUR4
|
|
|
© 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.
