Published on 10/30/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $788,000 contingent interest autocalls on Advanced Micro Devices
By Kiku Steinfeld
Chicago, Oct. 30 – JPMorgan Chase Financial Co. LLC priced $788,000 of autocallable contingent interest notes due Jan. 27, 2022 linked to Advanced Micro Devices, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 14.5% if the stock closes at or above its 56% 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 review date other than the first, second, third, fourth, fifth and final review dates.
The payout at maturity will be par plus the coupon unless the stock finishes below its 56% 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: | Advanced Micro Devices, Inc.
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Amount: | $788,000
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Maturity: | Jan. 27, 2022
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Coupon: | 14.5% annualized, payable monthly if stock closes at or above coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par plus the coupon unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
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Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than the first, second, third, fourth, fifth and final review dates
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Initial level: | $81.96
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Coupon barrier level: | $45.8976, 56% of initial level
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Trigger level: | $45.8976, 56% of initial level
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Pricing date: | Oct. 23
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Settlement date: | Oct. 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48132PPA6
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