Published on 4/6/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, April 6 – JPMorgan Chase Financial Co. LLC sold $500,000 autocallable contingent interest notes due March 17, 2022 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8.6% per year if each index closes at or above its interest barrier, 75% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly autocall review date after six months.
If the notes have not been called, the payout at maturity will be par plus the coupon unless any index finishes below its trigger value, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Dow Jones industrial average, Nasdaq-100 and Russell 2000
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| Amount: | $500,000
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| Maturity: | March 17, 2022
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| Coupon: | 8.6% per year, payable monthly if each index closes at or above interest barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any index finishes below trigger value, in which case 1% loss for every 1% that least-performing index finishes below initial level
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| Call: | After six months, automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date
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| Initial levels: | 23,185.62 for Dow, 7,995.263 7,995.263 for Nasdaq and 1,210.135 for Russell
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| Interest barriers: | 17,389.215 for Dow, 5,996.44725 for Nasdaq and 907.60125 for Russell, 75% of initial levels
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| Trigger values: | 13,911.372 for Dow, 4,797.1578 for Nasdaq and 726.081 for Russell, 60% of initial levels
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.9%
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| Cusip: | 48132KHZ1
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