Published on 11/12/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.1 million contingent interest autocalls on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – JPMorgan Chase Financial Co. LLC priced $2.1 million of autocallable contingent interest notes due Nov. 2, 2023 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.
Each quarter, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the review date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly review date other than the first and final ones.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 65.5% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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 and S&P 500
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| Amount: | $2,097,000
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| Maturity: | Nov. 2, 2023
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| Coupon: | 7.25% per year, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger value, in which case 1% loss for every 1% that least-performing index finishes below initial level
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| Call: | Automatically at par if each index closes at or above initial level on any quarterly review date other than first and final ones
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| Initial index levels: | 11,052.95 for Nasdaq, 1,538.479 for Russell and 3,269.96 for S&P
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| Coupon barriers: | 8,289.7125 for Nasdaq, 1,153.85925 for Russell and 2,453.47 for S&P, or 75% of initial levels
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| Trigger values: | 7,239.68225 for Nasdaq, 1,007.70375 for Russell and 2,141.8238 for S&P, or 65.5% of initial levels
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.9%
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| Cusip: | 48132PTF1
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