Published on 10/23/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.64 million contingent interest autocalls on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – JPMorgan Chase Financial Co. LLC priced $4.64 million of autocallable contingent interest notes due Oct. 21, 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.
Each month, the notes will pay a contingent coupon at the rate of 9.5% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that month.
The notes will be automatically 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 ones.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index ever closes below trigger value, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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: | $4,644,000
|
| Maturity: | Oct. 21, 2021
|
| Coupon: | 9.5% per year, payable monthly if each index closes at or above trigger value on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below trigger value, in which case 1% loss for every 1% that least-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than first, second and final ones
|
| Initial index levels: | 11,852.17 for Nasdaq, 1,633.808 for Russell and 3,483.81 for S&P
|
| Coupon barriers: | 8,296.519 for Nasdaq, 1,143.6656 for Russell and 2,438.667 for S&P, or 70% of initial levels
|
| Trigger values: | 8,296.519 for Nasdaq, 1,143.6656 for Russell and 2,438.667 for S&P, or 70% of initial levels
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.46485%
|
| Cusip: | 48132PLR3
|
|
|
© 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.
