Published on 5/8/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $915,000 contingent interest autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, May 8 – JPMorgan Chase Financial Co. LLC priced $915,000 of autocallable contingent interest notes due May 6, 2021 tied to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.9% per year if each index closes at or above its interest barrier level, 65% 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 quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par plus any coupon due unless any index finishes below its 65% trigger level, 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: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $915,000
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| Maturity: | May 6, 2021
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| Coupon: | 8.9% 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 plus any coupon due unless any index finishes below its trigger level, 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 the contingent coupon if each index closes at or above its initial level on any quarterly review date other than final review date
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| Initial levels: | 8,718.18 for Nasdaq, 1,260.48 for Russell and 2,830.71 for S&P
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| Interest barriers: | 5,666.817 for Nasdaq, 819.312 for Russell and 1,839.9615 for S&P; 65% of initial levels
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| Trigger levels: | 5,666.817 for Nasdaq, 819.312 for Russell and 1,839.9615 for S&P; 65% of initial levels
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| Pricing date: | May 1
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| Settlement date: | May 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48132K4T9
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