New Issue: JPMorgan sells $1.25 million callable contingent interest notes on indexes, ETF

By William Gullotti

Buffalo, N.Y., March 19 – JPMorgan Chase Financial Co. LLC sold $1.25 million of callable contingent interest notes due Dec. 11, 2025 linked to the performance of the S&P 500 index, the Russell 2000 index and the SPDR S&P Regional Banking 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 monthly coupon at an annual rate of 12% if each underlier closes at or above its interest barrier level, 70% of its initial level, on the corresponding review date.

The notes will be callable at par plus any coupon otherwise due on any monthly call date after six months.

The payout at maturity will be par plus the final coupon if each underlier finishes at or above its interest barrier.

If the worst performer finishes below its interest barrier but at or above its 60% trigger value, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Callable contingent interest notes
Underlying assets:	S&P 500 index, Russell 2000 index, SPDR S&P Regional Banking ETF
Amount:	$1,254,000
Maturity:	Dec. 11, 2025
Coupon:	12% annualized, payable monthly if each underlier closes at or above interest barrier level on the relevant review date
Price:	Par
Payout at maturity:	Par plus final coupon if each underlier finishes at or above interest barrier; if worst performer finishes below interest barrier but at or above trigger value, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
Call option:	At par plus any coupon due on any monthly call date after six months
Initial levels:	$49.57 for ETF, 5,123.69 for S&P, 2,082.713 for Russell
Interest barriers:	$34.699 for ETF, 3,586.583 for S&P, 1,457.8991 for Russell; 70% of initial levels
Trigger values:	$29.742 for ETF, 3,074.214 for S&P, 1,249.6278 for Russell; 60% of initial levels
Pricing date:	March 8
Settlement date:	March 13
Agent:	J.P. Morgan Securities LLC
Fees:	0.71902%
Cusip:	48134W3X3

© 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.