Published on 6/26/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.01 million autocallable yield notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, June 26 – JPMorgan Chase Financial Co. LLC. priced $1.01 million of 12% autocallable yield notes due March 18, 2021 linked to the lesser performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any monthly review date after six months other than the final one.
The payout at maturity will be par plus the final coupon unless either index ever closes below its 70% trigger level during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
JPMorgan Chase Financial Co. LLC. is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500, Dow Jones industrial average and Russell 2000
|
| Amount: | $1,007,000
|
| Maturity: | March 18, 2021
|
| Coupon: | 12%, payable monthly
|
| Price: | Par
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on a monthly observation date after six months other than final one
|
| Payout at maturity: | Par plus final coupon unless either index ever closes below its trigger level during life of the notes and either index finishes below its initial level, in which case full exposure to decline of lesser performing index
|
| Initial levels: | 3,066.59 for S&P, 1,419.607 for Russell, 25,763.16 for Dow
|
| Trigger levels: | 2,146.613 for S&P, 993.7249 for Russell, 18,034.212 for Dow, 70% of initial levels
|
| Pricing date: | June 15
|
| Settlement date: | June 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.35%
|
| Cusip: | 48132MHE4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
