By Wendy Van Sickle
Columbus, Ohio, June 27 – JPMorgan Chase Financial Co. LLC priced $7.11 million of contingent income autocallable securities due June 26, 2020 linked to Twilio Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 15.2% if the stock closes at or above its 55% downside threshold on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial price on any quarterly determination date other than the final date.
If the stock finishes at or above its 55% downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to any decline.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Twilio Inc.
|
| Amount: | $7,106,940
|
| Maturity: | June 26, 2020
|
| Coupon: | 15.2% per year, payable quarterly if stock closes at or above its downside threshold on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, full exposure to decline
|
| Call: | At par if stock closes at or above initial level on any quarterly determination date other than final date
|
| Initial level: | $29.71
|
| Downside threshold: | $16.3405, 55% of initial level
|
| Pricing date: | June 23
|
| Settlement date: | June 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 48129G679
|
|
|
© 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.
