Published on 11/27/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.52 million trigger autocallable contingent yield notes on Stoxx, EM index
By Sarah Lizee
Olympia, Wash., Nov. 27 – JPMorgan Chase Financial Co. LLC priced $5.52 million of trigger autocallable contingent yield notes due Nov. 20, 2029 linked to the Euro Stoxx 50 index and the MSCI Emerging Markets 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 7.8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any observation date after one year.
The payout at maturity will be par plus the coupon, if any, unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Euro Stoxx 50 index and MSCI Emerging Markets index
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Amount: | $5,519,900
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Maturity: | Nov. 20, 2029
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Coupon: | 7.8% payable quarterly if each index closes at or above coupon barrier level on observation date
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Price: | Par of $10
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Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after one year
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Payout at maturity: | Par plus coupon, if any, unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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Initial levels: | 1,048.79 for EM, 3,711.61 for Stoxx
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Coupon barriers: | 734.15 for EM, 2,598.13 for Stoxx, 70% of initial levels
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Downside thresholds: | 524.4 for EM, 1,855.81 for Stoxx, 50% of initial levels
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Pricing date: | Nov. 15
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Settlement date: | Nov. 20
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48132J306
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