Published on 9/16/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.49 million contingent interest notes on the Nasdaq, Russell, S&P
By Sarah Lizee
Olympia, Wash., Sept. 16 – JPMorgan Chase Financial Co. LLC priced $1.49 million of contingent interest notes due June 16, 2021 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes pay a contingent coupon at a rate of 6% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that period.
The payout at maturity will be par unless any index finishes below its 70% trigger value, in which case investors will be fully exposed to the decline of the least-performing index.
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: | Contingent interest notes
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Underlying indexes: | S&P 500 index, Nadaq-100 index and Russell 2000 index
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Amount: | $1,487,000
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Maturity: | June 16, 2021
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Coupon: | 6%, payable each month that each index closes at or above its coupon barrier on the review date for that period
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index
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Initial levels: | 3,340.97 for S&P, 11,087.40 for Nasdaq and 1,497.271 for Russell
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Barrier/trigger levels: | 2,338.679 for S&P, 7,761.18 for Nasdaq and 1,048.0897 for Russell; 70% of initial levels
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Pricing date: | Sept. 11
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Settlement date: | Sept. 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.48319%
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Cusip: | 48132MT84
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