Published on 10/16/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $300,000 autocallable contingent interest notes on Nasdaq, Russell
By Taylor Fox
New York, Oct. 16 – JPMorgan Chase Financial Co. LLC priced $300,000 of autocallable contingent interest notes due Sept. 21, 2021 linked to the Russell 2000 index 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 9% if each index closes at or above its coupon barrier level, 70% of its initial level, on the interest review date for that period.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly autocall review date.
The payout at maturity will be par plus the coupon unless either index finishes below the 70% trigger value, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 and Nasdaq-100
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| Amount: | $300,000
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| Maturity: | Sept. 21, 2021
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| Coupon: | 9%, payable monthly if each index closes at or above coupon barrier level on interest review date date
|
| Price: | Par
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date
|
| Payout at maturity: | Par plus coupon unless either index closes below trigger level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 1,552.329 for Russell, 11,247.6 for Nasdaq-100
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| Interest barriers: | 1,086.6303 for Russell, 7,873.32 for Nasdaq-100, 70% of initial levels
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| Trigger values: | 1,086.6303 for Russell, 7,873.32 for Nasdaq-100, 70% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132PAX2
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