Published on 9/2/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.19 million digital notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Sept. 2 – JPMorgan Chase Financial Co. LLC priced $1.19 million of 0% digital notes due Oct. 5, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its trigger level, 62.5% of its initial level, on each day during the life of the notes, the payout at maturity will be par plus 8%.
If either index ever closes below its trigger level during the life of the notes, but both indexes finish at or above their initial levels, the payout will be par.
If either index ever closes below its trigger level during the life of the notes and either index finishes below its initial level, investors will be fully exposed to the decline of the lesser performing index.
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: | Digital notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1,186,000
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| Maturity: | Oct. 5, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index closes at or above its trigger level on each day during the life of the notes, par plus 8%; if either index ever closes below its trigger level during the life of the notes, but both indexes finish at or above their initial levels, par; if either index ever closes below its trigger level during the life of the notes and either index finishes below its initial level, investors will be fully exposed to the decline of the lesser performing index
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| Initial levels: | 3,500.31 for S&P, 1,561.876 for Russell
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| Trigger levels: | 2,187.69375 for S&P, 976.1725 for Russell, 62.5% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35276%
|
| Cusip: | 48132MYX3
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