By Abigail W. Adams
Portland, Me., June 27 – JPMorgan Chase Financial Co. LLC priced a downsized $368.25 million offering of five-year cash-settled equity-linked notes tied to the Boeing Co. on June 23 with a coupon of 0.5% and threshold price premium of 49%, according to an FWP filing with the Securities and Exchange Commission.
Pricing came in line with talk for a fixed coupon of 0.5%, a fixed conversion premium of 50% and an offer price of 105, according to a market source.
The offering was downsized from $500 million.
JPMorgan Chase & Co. is the guarantor of the notes, according to details of the SEC filing.
J.P. Morgan Securities LLC is the bookrunner for the SEC-registered offering.
The notes, which mature June 15, 2027, are non-callable and have no put features.
There is dividend protection starting at $0.
JPMorgan Chase is a New York-based multinational investment bank.
Boeing is an Arlington, Va.-based aircraft, rocket and satellite designer and manufacturer.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Securities: | Cash-settled equity-linked notes tied to Boeing
|
| Amount: | $368.25 million
|
| Maturity: | June 15, 2027
|
| Bookrunners: | J.P. Morgan Securities LLC
|
| Coupon: | 0.5%
|
| Price: | 105
|
| Threshold price premium: | 49%
|
| Call options: | None
|
| Put options: | None
|
| Pricing date: | June 23
|
| Settlement date: | June 28
|
| Distribution: | Registered
|
| Talk: | Fixed coupon of 0.5%, a fixed conversion premium of 50% and an offer price of 105
|
| Stock symbol: | NYSE: BA
|
| Stock price: | VWAP on June 24 as determined by the calculation agent
|
| Market capitalization: | $81.50 billion
|
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