By Kiku Steinfeld
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $500,000 of callable contingent interest notes due July 8, 2024 linked to the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.85% if the ETF closes at or above its coupon barrier level, 65% of the initial price, on the review date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the ETF finishes below its 50% trigger level, in which case investors will be fully exposed to its decline from its initial price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying ETF: | VanEck Vectors Oil Services ETF
|
| Amount: | $500,000
|
| Maturity: | July 8, 2024
|
| Coupon: | 9.85%, payable quarterly if ETF closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par if ETF finishes at or above trigger level; otherwise, exposure to decline of ETF from initial price
|
| Call option: | At par on any interest payment date
|
| Initial price: | $217.83
|
| Coupon barrier level: | $141.5895, 65% of initial share price
|
| Trigger level: | $108.915, 50% of initial share price
|
| Pricing date: | June 29
|
| Settlement date: | July 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132UVB6
|
|
|
|
|
© 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.
