Published on 4/14/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $905,000 contingent interest autocalls on Russell, Dow, Nasdaq
Chicago, April 14 – JPMorgan Chase Financial Co. LLC priced $905,000 of autocallable contingent interest notes due April 6, 2023 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.4% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the associated review date.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $905,000
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| Maturity: | April 6, 2023
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| Coupon: | 10.4% per year, payable quarterly if each index closes at or above interest barrier level on relevant review date
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date except first and final dates
|
| Initial levels: | 7,528.114 for Nasdaq, 1,052.053 for Russell and 21,052.53 for Dow
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| Interest barriers: | 5,269.6798 for Nasdaq, 736.4371 for Russell and 14,736.771 for Dow; 70% of initial levels
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| Trigger levels: | 4,516.8684 for Nasdaq, 631.2318 for Russell and 12,631.518 for Dow; 60% of initial levels
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| Pricing date: | April 3
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| Settlement date: | April 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.95%
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| Cusip: | 48132KRC1
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