Published on 12/10/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $997,000 contingent interest autocalls on Amazon
By Kiku Steinfeld
Chicago, Dec. 10 – JPMorgan Chase Financial Co. LLC priced $997,000 of autocallable contingent interest notes due March 3, 2022 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.35% if the stock closes at or above its 65% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly review date other than first, second, third, fourth, fifth and final dates.
The payout at maturity will be par plus the coupon unless the stock finishes below its initial level and has ever closed below its 65% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying stock: | Amazon.com, Inc.
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Amount: | $997,000
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Maturity: | March 3, 2022
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Coupon: | 6.35% annualized, payable monthly if stock closes at or above its coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par unless stock finishes below its initial level and has ever closed below its trigger level, in which case investors will be fully exposed to stock’s decline
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Call: | At par plus contingent coupon if stock closes at or above initial level on any monthly review date other than first, second, third, fourth, fifth and final dates
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Initial level: | $3,168.04
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Coupon barrier/trigger level: | $2,059.226, 65% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132P2S2
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