Published on 2/26/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.04 million review notes tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – JPMorgan Chase Financial Co. LLC priced $1.04 million of 0% review notes due Feb. 26, 2025 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 11% if each index closes at or above its applicable call level on any annual review date. The call level will be 105% of the initial level for each index for the first date, stepping down to 102.5% for the second date and 100% for the remaining dates.
If the notes are not called, the payout at maturity will be par unless any underlying index falls by more than 30%, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Review notes
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| Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100 index
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| Amount: | $1,043,000
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| Maturity: | Feb. 26, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 11% per year if each index closes at or above call level on annual review date; call level will be 105% of the initial level for each index for the first date, stepping down to 102.5% for the second date and 100% for the remaining dates
|
| Payout at maturity: | If not called and each index finishes at or above trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Initial levels: | 3,337.75 for S&P, 1,678.609 for Russell and 9,446.688 for Nasdaq
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| Trigger levels: | 2,336.425 for S&P, 1,175.0263 for Russell and 6,612.6816 for Nasdaq, 70% of initial levels
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48132H3Q3
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