Published on 8/27/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $889,000 contingent interest notes on Dow, Nasdaq, Russell
By Sarah Lizee
Olympia, Wash., Aug. 27 – JPMorgan Chase Financial Co. LLC priced $889,000 of contingent interest notes due May 31, 2022 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 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 5.2% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The payout at maturity will be par plus any final coupon unless any index finishes below its 60% trigger value, in which case investors will lose 1% for each 1% decline of the lesser performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent interest notes
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| Underlying indexes: | Russell 2000, Dow Jones industrial average, Nasdaq-100
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| Amount: | $889,000
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| Maturity: | May 31, 2022
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| Coupon: | 5.2% annualized, payable monthly if each index closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of lesser performing index
|
| Initial levels: | 11,721.81 for Nasdaq, 1,571.209 for Russell and 28,248.44 for Dow
|
| Interest barriers: | 8,205.267 for Nasdaq, 1,099.8463 for Russell and 19,773.908 for Dow, 70% of initial levels
|
| Trigger levels: | 7,033.086 for Nasdaq, 942.7254 for Russell and 16,949.064 for Dow, 60% of initial levels
|
| Pricing date: | Aug. 25
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| Settlement date: | Aug. 28
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132MD73
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