Published on 3/9/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $734,000 capped notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 9 – JPMorgan Chase Financial Co. LLC priced $734,000 of 0% capped notes due Nov. 30, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the lesser-performing index’s return, subject to a maximum return of 12%.
If either index finishes below its initial level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level, subject to a minimum payout of $950 per $1,000 principal amount of notes.
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: | Capped notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $734,000
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Maturity: | Nov. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus the lesser-performing index’s return, subject to a maximum return of 12%; if either index finishes below its initial level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level, subject to a minimum payout of $950 per $1,000 principal amount of notes
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Initial levels: | 2,954.22 for S&P, 1,476.431 for Russell
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Pricing date: | Feb. 28
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Settlement date: | March 4
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.54713%
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Cusip: | 48132H2W1
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