Published on 10/30/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $240,000 autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 30 – JPMorgan Chase Financial Co. LLC priced $240,000 of 9.5% autocallable yield notes due Oct. 24, 2023 linked to the least performing of the Amazon.com, Inc., Advanced Micro Devices, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
JPMorgan Chase Financial Co. LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Amazon.com, Inc., Advanced Micro Devices, Inc. and Microsoft Corp.
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| Amount: | $240,000
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| Maturity: | Oct. 24, 2023
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| Coupon: | 9.5%, payable monthly
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| Price: | Par
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on a quarterly observation date other than final one
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| Payout at maturity: | Par plus final coupon unless any stock finishes below its trigger level, in which case full exposure to decline of lesser performing stock
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| Initial levels: | $3,207.21 for Amazon, $82.00 for Advanced Micro, $214.22 for Microsoft
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| Trigger levels: | $1,924.326 for Amazon, $49.20 for Advanced Micro, $128.532 for Microsoft, 60% of initial levels
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| Pricing date: | Oct. 19
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| Settlement date: | Oct. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132PNA8
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