By Susanna Moon
Chicago, July 31 – JPMorgan Chase Financial Co. LLC priced $2.71 million of autocallable contingent interest notes due July 29, 2021 linked to the least performing of the common stocks of Broadcom Inc., Nvidia Corp., Microsoft Corp. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.25% if each stock closes at or above its 55% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first through fifth and final dates.
The payout at maturity will be par unless any stock finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stock: | Broadcom Inc. (Symbol: AVGO), Nvidia Corp. (Symbol: NVDA), Microsoft Corp. (Symbol: MSFT) and Intel Corp. (Symbol: INTC)
|
| Amount: | $2.71 million
|
| Maturity: | July 29, 2021
|
| Coupon: | 9.25% annualized, payable monthly if each stock closes at or above 55% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock closes below 55% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than first through fifth and final dates
|
| Initial levels: | $223.18 for Broadcom, $254.84 for Nvidia, $109.62 for Microsoft and $52.16 for Intel
|
| Trigger levels: | $122.749 for Broadcom, $140.162 for Nvidia, $60.291 for Microsoft and $28.688 for Intel, 55% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48129MQ90
|
|
|
|
|
© 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.
