JPMorgan plans 9.5% contingent interest callables tied to two funds

By Susanna Moon

Chicago, May 31 – JPMorgan Chase Financial Co. LLC plans to price callable contingent interest notes due June 29, 2021 linked to the lesser performing of the SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of 9.5% if each fund closes at or above the 60% coupon barrier on the observation date for that period.

The notes are callable at par on any interest payment date other than the final date.

The payout at maturity will be par plus unless either fund finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the underwriter.

The notes will price on June 22 and settle on June 29.

The Cusip number is 48129MVW3.

© 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.