By Angela McDaniels
Tacoma, Wash., June 25 – JPMorgan Chase Financial Co. LLC priced $2.46 million of autocallable contingent interest notes due July 9, 2020 linked to the common stock of Broadcom Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 17.3% per year if the stock closes at or above the trigger level, 75% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par if Broadcom stock closes at or above its initial share price on any quarterly review date other than the final review date.
The payout at maturity will be par unless Broadcom stock finishes below the trigger level, in which case investors will be fully exposed to the stock’s decline from its initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying stock: | Broadcom Inc. (Symbol: AVGO)
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Amount: | $2.46 million
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Maturity: | July 9, 2020
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Coupon: | 17.3% per year, payable quarterly if stock closes at or above trigger level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless final share price is less than trigger level, in which case exposure to stock’s decline from initial share price
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Call: | Automatically at par if stock closes at or above initial share price on any quarterly review date other than final one
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Initial share price: | $273.99
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Final share price: | Average of closing share prices on five trading days ending July 6, 2020
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Trigger value: | $205.4925, 75% of initial share price
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Pricing date: | June 21
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Settlement date: | June 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48132CWB5
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