Published on 12/10/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.3 million autocallable contingent interest notes on indexes
By Taylor Fox
New York, Dec. 10 – JPMorgan Chase Financial Co. LLC priced $2.3 million of autocallable contingent interest notes due Dec. 7, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 monthly coupon at an annual rate of 9.05% if each index closes at or above its interest barrier level, 80% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date after three months.
The payout at maturity will be par plus the final coupon unless any index finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
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: | Nasdaq-100 index, Russell 2000 and the S&P 500 index
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Amount: | $2,296,000
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Maturity: | Dec. 7, 2023
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Coupon: | 9.05% annualized, payable monhtly if each index closes at or above interest barrier level 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 level, in which case 1% loss for each 1% decline of least performing index from initial level
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date after three months
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Initial levels: | 12,528.48 for Nasdaq, 1,892.449 for Russell, 3,699.12 for S&P
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Interest barrier: | 10,022.784 for Nasdaq, 1,513.9592 for Russell, 2,959.296 for S&P, 80% of initial levels
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Trigger levels: | 8,769.936 for Nasdaq, 1,324.7143 for Russell, 2,589.384 for S&P, 70% of initial levels
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Pricing date: | Dec. 4
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Settlement date: | Dec. 9
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48132PF33
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