Published on 11/15/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $8.08 million autocallable contingent interest notes on stocks
By Taylor Fox
New York, Nov. 16 – JPMorgan Chase Financial Co. LLC priced $8.08 million of autocallable contingent interest notes due Oct. 26, 2023 linked to the least performing of the common stock of Advanced Micro Devices, Inc., the class A common stock of Alphabet Inc. and the common stock of Home Depot, Inc., 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 monthly coupon at an annual rate of 14.5% if each stock closes at or above its interest barrier level, 60% of its initial level, on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus any final coupon unless any stock finishes below its 60% trigger value, in which case investors will lose 1% for each 1% decline of the lesser performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Advanced Micro Devices, Inc., Alphabet Inc. and the Home Depot, Inc.
|
| Amount: | $8,076,000
|
| Maturity: | Oct. 26, 2023
|
| Coupon: | 14.5% annualized, payable monthly if each stock closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of lesser performing stock
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly review date after six months
|
| Initial levels: | $81.96 for Micro, $1,632.98 for Alphabet and $283 for Home Depot
|
| Interest barrier: | $49.176 for Micro, $979.788 for Alphabet and $169.80 for Home Depot, 60% of initial levels
|
| Trigger levels: | $49.176 for Micro, $979.788 for Alphabet and $169.80 for Home Depot, 60% of initial levels Pricing date: Oct. 23
|
| Settlement date: | Oct. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48132PHK3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
