Published on 8/27/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $371,000 review notes linked to Russell, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Aug. 27 – JPMorgan Chase Financial Co. LLC priced $371,000 of 0% review notes due Aug. 28, 2023 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 11.15% per year if each index closes at or above its call value, 90% of its initial level, on any of four annual review dates.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% that the lesser-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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $371,000
|
| Maturity: | Aug. 28, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final level of each index is greater than or equal to trigger value; otherwise, 1% loss for each 1% that lesser-performing index finishes below initial level
|
| Call: | Automatically at par plus call premium of 11.15% per year if each index closes at or above call value, 90% of initial level, on Aug. 27, 2020, Aug. 23, 2021, Aug. 23, 2022 or Aug. 23, 2023
|
| Initial levels: | 1,459.485 for Russell 2000 and 3,334.25 for Euro Stoxx 50
|
| Trigger values: | 1,021.6395 for Russell 2000 and 2,333.975 for Euro Stoxx 50, or 70% of initial levels
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132CD34
|
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