Published on 10/29/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.34 million autocallable contingent interest notes on indexes
By Taylor Fox
New York, Oct. 29 – JPMorgan Chase Financial Co. LLC priced $1.34 million of autocallable contingent interest notes due July 6, 2023 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 6.5% 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 six 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 beyond the 30% buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000, Dow Jones industrial average, Nasdaq-100
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| Amount: | $1,337,000
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| Maturity: | July 6, 2023
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| Coupon: | 6.5% annualized, payable monthly 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 beyond 30% buffer
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date after six months
|
| Initial levels: | 1,507.692 for Russell, 11,418.06 for Nasdaq, 27,781.7 for Dow
|
| Interest barriers: | 1,055.3844 for Russell, 7,992.642 for Nasdaq, 19,447.19 for Dow, 70% of initial levels
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| Trigger levels: | 1,055.3844 for Russell, 7,992.642 for Nasdaq, 19,447.19 for Dow, 70% of initial levels
|
| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35882%
|
| Cusip: | 48132PEZ3
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