By Marisa Wong
Morgantown, W.Va., Nov. 7 – JPMorgan Chase Financial Co. LLC priced $2 million of 13.5% yield notes due Dec. 5, 2018 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable semiannually.
The payout at maturity will be par unless the final spread is less than 50% of the initial spread, in which case investors will lose 2% for every 1% the final spread is below 50% of the initial spread.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Yield notes
|
Underlying spread: | 30-year U.S. dollar ICE swap rate minus two-year U.S. dollar ICE swap rate
|
Amount: | $2 million
|
Maturity: | Dec. 5, 2018
|
Coupon: | 13.5%, payable semiannually
|
Price: | Par
|
Payout at maturity: | Par unless the final spread is less than threshold spread, in which case investors will lose 2% for every 1% the final spread is below threshold spread
|
Initial spread: | 0.793%
|
Threshold spread: | 0.3965%; 50% of initial spread
|
Strike date: | Oct. 30
|
Pricing date: | Oct. 31
|
Settlement date: | Nov. 3
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.65%
|
Cusip: | 46647MPJ6
|
|
© 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.