By Wendy Van Sickle
Columbus, Ohio, July 8 – JPMorgan Chase Financial Co. LLC priced $400,000 of 7.3% autocallable yield notes due July 7, 2022 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
If the shares close at or above the initial price on April 1, 2022, the notes will be called at par plus the coupon.
If the notes are not called and the shares finish at or above the trigger price, 70% of the initial price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying stock: | Boeing Co.
|
| Amount: | $400,000
|
| Maturity: | July 7, 2022
|
| Coupon: | 7.3%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par if shares finish at or above trigger price; otherwise, 1% loss for each 1% decline in stock
|
| Call: | Automatically at par plus coupon if Boeing shares close at or above initial price on April 1, 2022
|
| Initial share price: | $239.73
|
| Trigger price: | $167.811, 70% of initial price
|
| Pricing date: | July 1
|
| Settlement date: | July 7
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 0.2%
|
| Cusip: | 48132UXA6
|
© 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.
