Published on 7/1/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.41 million autocallable contingent interest notes on indexes
By Sarah Lizee
Olympia, Wash., July 1 – JPMorgan Chase Financial Co. LLC priced $1.41 million of autocallable contingent interest notes due March 26, 2021 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index, and the S&P 500 index, 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 monthly coupon at an annual rate of 16.5% if each index closes at or above its 70% interest barrier on the related review date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first, second and final dates.
The payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $1,407,000
|
| Maturity: | March 26, 2021
|
| Coupon: | 16.5% annual rate, payable each month that each index closes at or above its interest barrier on the related review date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index
|
| Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first, second and final dates
|
| Initial levels: | 10,209.820 for Nasdaq, 1,439.338 for Russell and 3,131.29 for S&P
|
| Coupon barriers: | 7,146.874 for Nasdaq, 1,007.5366 for Russell and 2,191.903 for S&P, 70% of initial levels
|
| Trigger levels: | 7,146.874 for Nasdaq, 1,007.5366 for Russell and 2,191.903 for S&P, 70% of initial levels
|
| Pricing date: | June 23
|
| Settlement date: | June 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.35821%
|
| Cusip: | 48132MLR0
|
|
|
|
|
© 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.
