Published on 8/4/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $513,000 contingent interest autocalls on three stocks
By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – JPMorgan Chase Financial Co. LLC priced $513,000 of autocallable contingent interest notes due Aug. 2, 2023 linked to Black & Decker, Inc., CVS Health Corp. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if the least performing stock closes at or above its 50% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the least performing stock closes at or above its initial level on any quarterly call review date after six months.
The payout at maturity will be par plus the coupon unless the least performing stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the least performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Black & Decker, Inc., CVS Health Corp. and FedEx Corp.
|
| Amount: | $513,000
|
| Maturity: | Aug. 2, 2023
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| Coupon: | 12% annualized, payable monthly if least performing stock closes at or above coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the least performing stock finishes below its trigger level, in which case investors will be fully exposed to any losses of least performing stock
|
| Call: | After six months, at par plus the contingent coupon if the least performing stock closes at or above initial level on any quarterly call review date
|
| Initial levels: | $152.71 for Black & Decker, $63.27 for CVS, $166.93 for FedEx
|
| Coupon barrier levels: | $76.355 for Black & Decker, $31.635 for CVS, $83.465 for FedEx, 50% of initial level
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| Trigger levels: | $76.355 for Black & Decker, $31.635 for CVS, $83.465 for FedEx, 50% of initial level
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48132MVC2
|
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