By Susanna Moon
Chicago, Oct. 21 – JPMorgan Chase Financial Co. LLC priced $3.25 million of autocallable contingent interest notes due Nov. 8, 2017 linked to the class A common stock of Charter Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 14.75% if Charter stock closes at or above its 85% coupon barrier on the review date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly review other than the final date.
The payout at maturity will be par unless the stock finishes below its 85% trigger level, in which case investors will be fully exposed to any losses.
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: | Charter Communications, Inc. (Symbol: CHTR)
|
| Amount: | $3.25 million
|
| Maturity: | Nov. 8, 2017
|
| Coupon: | 14.75%, payable quarterly if stock closes at or above 85% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless stock closes below trigger level, in which case full exposure to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review date other than the final date
|
| Initial share price: | $260.20
|
| Trigger level: | $221.17, 85% of initial share price
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 24
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 46646E2E1
|
|
|
|
|
© 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.
