Published on 1/16/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.94 million autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Jan. 16 – JPMorgan Chase Financial Co. LLC priced $1.94 million of autocallable contingent interest notes due July 12, 2021 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 9.4% if each index closes at or above its 70% interest barrier on the related quarterly review date.
The notes will be 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 final one.
The payout at maturity will be par plus the final coupon unless any index finishes below its initial level and any index closes below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to the losses of the worst 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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Euro Stoxx 50 index
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| Amount: | $1,940,000
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| Maturity: | July 12, 2021
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| Coupon: | 9.4% annual rate, payable each quarter that each index closes at or above its interest barrier on the related quarterly review date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below its initial level and any index closes below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to the losses of the worst performing index
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| Call: | Automatically at par plus coupon if each index closes at or above its initial level on any quarterly review date other than the final one
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| Initial levels: | 3,759.25 for Stoxx, 1,658.305 for Russell and 8,846.449 for Nasdaq
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| Coupon barriers/trigger levels: | 2,631.475 for Stoxx, 1,160.8135 for Russell and 6,192.5143 for Nasdaq, 70% of initial values
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| Pricing date: | Jan. 7
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| Settlement date: | Jan. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48132HQH8
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