Published on 9/29/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.84 million autocallable contingent interest notes on indexes
Chicago, Sept. 30 – JPMorgan Chase Financial Co. LLC priced $3.84 million of autocallable contingent interest notes due Feb. 26, 2021 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 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 quarterly coupon at an annual rate of 8% if each index closes at or above its 70% interest barrier on the related quarterly review date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the coupon unless any index finishes below its initial level and any index closes below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Russell 2000, S&P 500 and Euro Stoxx
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| Amount: | $3,837,000
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| Maturity: | Feb. 26, 2021
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| Coupon: | 8% annual rate, payable each quarter that each index closes at or above its interest barrier on the related quarterly review date
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless any index finishes below its initial level and any index closes below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index
|
| Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final date
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| Initial levels: | 1,456.039 for Russell, 2,869.16 for S&P and 3,370.47 for Stoxx
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| Coupon barriers: | 1,019.2273 for Russell, 2,008.412 for S&P and 2,359.329 for Stoxx, 70% of initial values
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| Trigger levels: | 1,019.2273 for Russell, 2,008.412 for S&P and 2,359.329 for Stoxx, 70% of initial values
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.82555%
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| Cusip: | 48132CJ61
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