Published on 3/22/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $948,000 autocallable contingent interest notes on Russell, Dow, Stoxx
By Kiku Steinfeld
Chicago, March 23 – JPMorgan Chase Financial Co. LLC priced $948,000 of autocallable contingent interest notes due March 9, 2022 linked to the lesser performing of the Russell 2000 index, the Euro Stoxx 50 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.81% 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 called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 70% 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000, Dow Jones industrial average and Euro Stoxx 50
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| Amount: | $948,000
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| Maturity: | March 9, 2022
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| Coupon: | 6.81% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless any index finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | At par plus contingent coupon if any index closes at or above initial level on any quarterly review date other than first and final ones
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| Initial levels: | 1,531.197 for Russell, 27,090.86 for Dow and 3,420.56 for Stoxx
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| Interest barrier/trigger levels: | 1,071.8379 for Russell, 18,963.602 for Dow and 2,394.392 for Stoxx; 70% of initial levels
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| Pricing date: | March 4
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| Settlement date: | March 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.65%
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| Cusip: | 48132KCW3
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