By Kiku Steinfeld
Chicago, Nov. 11 – JPMorgan Chase Financial Co. LLC priced $400,000 of autocallable contingent interest notes due Sept. 14, 2023 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid quarterly, if the underlying fund closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically starting June 13 at par if the price of the underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the ETF closes below its 70% trigger level in which case investors will be fully exposed to the decline of the ETF.
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: | Autocallable contingent interest notes
|
| Underlying ETF: | SPDR S&P Biotech ETF (Ticker: XBI)
|
| Amount: | $400,000
|
| Maturity: | Sept. 14, 2023
|
| Coupon: | 10.5%, paid quarterly, if the underlying fund closes at or above its 70% trigger level on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the ETF closes below its trigger level in which case investors will be fully exposed to the decline in the ETF
|
| Call: | Automatically starting June 13 at par if the price of the underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial level: | $84.61
|
| Trigger level: | $59.227, 70% of initial level
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48133DXC9
|
|
|
© 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.
