Published on 10/26/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $800,000 autocallable contingent interest notes on indexes
By Taylor Fox
New York, Oct. 26 – JPMorgan Chase Financial Co. LLC priced $800,000 of autocallable contingent interest notes due June 30, 2021 linked to the least performing of the Russell 2000 index, the S&P 500 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 quarterly coupon at an annual rate of 9% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
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 after three months.
The payout at maturity will be par plus the final coupon unless any index finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline of the worst performer 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, S&P 500, Nasdaq-100
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| Amount: | $800,000
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| Maturity: | June 30, 2021
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| Coupon: | 9% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of lesser performing index from its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date after three months
|
| Initial levels: | 1,474.908 for Russell, 11,151.13 for Nasdaq, 3,298.46 for S&P
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| Interest/trigger barriers: | 1,032.4356 for Russell, 7,805.791 for Nasdaq, 2,308.922 for S&P, 70% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.6%
|
| Cusip: | 48132PFN9
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