Published on 7/22/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.44 million contingent interest autocallables on Ulta
By Kiku Steinfeld
Chicago, July 22 – JPMorgan Chase Financial Co. LLC priced $2.44 million of autocallable contingent interest notes due Oct. 21, 2021 linked to the common stock of Ulta Beauty, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above its 50% coupon barrier on a monthly review date, the notes will pay a contingent coupon that month at a rate of 10.15% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on Jan. 19, 2021, April 19, 2021 or July 19, 2021.
The payout at maturity will be par unless the stock finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline.
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: | Ulta Beauty, Inc. (Symbol: ULTA)
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| Amount: | $2,435,000
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| Maturity: | Oct. 21, 2021
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| Coupon: | 10.15% per year, payable each month that stock closes at or above its coupon barrier on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless stock finishes below trigger level, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial price Jan. 19, 2021, April 19, 2021 or July 19, 2021
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| Initial price: | $203.00
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| Coupon barrier: | $101.50, 50% of initial price
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| Trigger level: | $101.50, 50% of initial price
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| Pricing date: | July 17
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| Settlement date: | July 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132MSV4
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