Published on 3/27/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $700,000 review notes tied to three indexes
Chicago, March 25 – JPMorgan Chase Financial Co. LLC priced $700,000 of 0% review notes due March 20, 2026 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 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 17.35% if each index closes at or above its applicable call level on any annual review date. The call level will be 100% of the initial level for each index.
If the notes are not called, meaning both indexes have closed below their initial levels, the payout at maturity will be par plus the 15% contingent minimum return 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 Euro Stoxx 50 index
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| Amount: | $700,000
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| Maturity: | March 20, 2026
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 17.35% per year if each index closes at or above 100% of initial level on any annual review date
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| Payout at maturity: | If not called, meaning indexes have closed below their initial levels, and each index finishes at or above trigger level, par plus 15% contingent minimum return; otherwise, 1% loss for each 1% decline of worst performing index
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| Initial levels: | 2,529.19 for S&P, 1,106.506 for Russell and 2,530.50 for Stoxx
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| Trigger levels: | 1,770.433 for S&P, 774.5542 for Russell and 1,771.35 for Stoxx, 70% of initial levels
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| Pricing date: | March 17
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| Settlement date: | March 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48132KJS5
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