Published on 6/19/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 of autocallable contingent interest notes linked to indexes
By Kiku Steinfeld
Chicago, June 19 – JPMorgan Chase Financial Co. LLC sold $500,000 of autocallable contingent interest notes due June 18, 2021 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 quarterly coupon at an annual rate of 12.7% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter.
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 first and final one.
The payout at maturity will be par plus the final coupon unless any index finishes below its initial level and any index closes below its 70% trigger value on any trading day during the life of the notes, in which case investors will lose 1% for each 1% decline of the lesser 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: | Nasdaq-100, Russell 2000, S&P 500
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| Amount: | $500,000
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| Maturity: | June 18, 2021
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| Coupon: | 12.7% annualized, payable quarterly if each underlying index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below its initial level and any index ever closes below trigger level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final one
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| Initial levels: | 7,263.653 for Nasdaq, 1,122.930 for Russell and 2,480.64 for S&P
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| Coupon/trigger levels: | 5,084.5571 for Nasdaq, 786.051 for Russell and 1,736.448 for S&P; 70% of initial levels
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| Pricing date: | June 15
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| Settlement date: | June 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132MJT9
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