Published on 10/12/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.41 million contingent interest notes on the Nasdaq, Russell, S&P
Kiku Steinfeld
Chicago, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $1.41 million of contingent interest notes due Oct. 5, 2021 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes pay a contingent coupon at a rate of 7.25% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that period.
The payout at maturity will be par unless any index finishes below its 70% trigger value, in which case investors will be fully exposed to the decline of the least-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: | Contingent interest notes
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| Underlying indexes: | S&P 500 index, Nadaq-100 index and Russell 2000 index
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| Amount: | $1,406,000
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| Maturity: | Oct. 5, 2021
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| Coupon: | 7.25%, payable each month that each index closes at or above its coupon barrier on the review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index
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| Initial levels: | 3,363.00 for S&P, 11,418.06 for Nasdaq and 1,507.692 for Russell
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| Barrier/trigger levels: | 2,354.10 for S&P, 7,992.642 for Nasdaq and 1,055.3844 for Russell; 70% of initial levels
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.86709%
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| Cusip: | 48132PEW0
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