Published on 4/19/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $600,000 review notes linked to Russell, S&P, Dow
By Kiku Steinfeld
Chicago, April 20 – JPMorgan Chase Financial Co. LLC priced $600,000 of 0% review notes due March 18, 2025 linked to the least performing of the Russell 2000 index, the S&P 500 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 be called at par plus an annualized call premium of 16% if each index closes at or above its initial level on any biannual review date after one year.
If the notes are not called and each index finishes at or above trigger level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
|
| Amount: | $600,000
|
| Maturity: | March 18, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 16% per year if each index closes at or above its initial level on any biannual review date after one year
|
| Payout at maturity: | Par unless any index falls below its trigger level, in which case full exposure to decline of least performing index from its initial level
|
| Initial levels: | 23,185.62 for Dow, 1,210.135 for Russell and 2,711.02 for S&P
|
| Trigger levels: | 16,229.934 for Dow, 847.0945 for Russell and 1,897.714 for S&P; 70% of initial levels
|
| Pricing date: | March 13
|
| Settlement date: | March 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 48132KKW4
|
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