Published on 3/13/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.08 million contingent interest autocalls on three indexes
By Sarah Lizee
Olympia, Wash., March 13 – JPMorgan Chase Financial Co. LLC priced $1.08 million of autocallable contingent interest notes due Dec. 10, 2020 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 12.85% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its trigger value, 70% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average
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| Amount: | $1,075,000
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| Maturity: | Dec. 10, 2020
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| Coupon: | 12.85% per year, payable quarterly if each index closes at or above interest barrier level 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 its initial level and any index ever closes below its trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any review date other than final review date
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| Initial levels: | 26,121.28 for Dow, 8,671.658 for Nasdaq and 1,478.824 for Russell
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| Interest barriers: | 18,284.896 for Dow, 6,070.1606 for Nasdaq and 1,035.1768 for Russell; 70% of initial levels
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| Trigger levels: | 18,284.896 for Dow, 6,070.1606 for Nasdaq and 1,035.1768 for Russell; 70% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.46581%
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| Cusip: | 48132KDH5
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