Published on 12/9/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $629,000 contingent interest notes on the Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Dec. 9 – JPMorgan Chase Financial Co. LLC priced $629,000 of contingent interest notes due June 3, 2022 linked to the lesser performing of the Dow Jones industrial average, 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 quarter, the notes pay a contingent coupon at a rate of 6.2% 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 65% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent interest notes
|
| Underlying indexes: | Dow Jones industrial average, Nadaq-100 index and Russell 2000 index
|
| Amount: | $629,000
|
| Maturity: | June 3, 2022
|
| Coupon: | 6.2%, payable each quarter that each index closes at or above its coupon barrier on the review date for that period
|
| Price: | Par
|
| 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
|
| Initial levels: | 12,268.32 for Nasdaq, 1,819.816 for Russell and 29,638.64 for Dow
|
| Coupon barrier levels: | 8,587.824 for Nasdaq, 1,273.8712 for Russell and 20,747.048 for Dow; 70% of initial levels
|
| Trigger levels: | 7,974.408 for Nasdaq, 1,182.8804 for Russell and 19,265.116 for Dow; 65% of initial levels
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.65%
|
| Cusip: | 48132P4S0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
