Published on 10/30/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.03 million autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Oct. 30 – JPMorgan Chase Financial Co. LLC priced $1.03 million of autocallable contingent interest notes due April 28, 2022 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 monthly coupon at an annual rate of 9.5% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
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 other than the first, second and final review dates.
The payout at maturity will be par plus any final coupon unless any index finishes below its initial level and any index ever closes below its 60% trigger value, in which case investors will lose 1% for each 1% decline of the lesser performing index.
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: | Autocallable contingent interest notes
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Underlying indexes: | Russell 2000, S&P 500, Nasdaq-100
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Amount: | $1,027,000
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Maturity: | April 28, 2022
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Coupon: | 9.5% annualized, payable monthly if each index closes at or above interest barrier level on review date for that month
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Price: | Par
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Payout at maturity: | Par plus any final coupon unless any index finishes below its initial level and any index ever closes below its 60% trigger value
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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 review dates
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Initial levels: | 1,640.502 for Russell, 11,692.57 for Nasdaq, 3,465.39 for S&P
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Interest barrier: | 1,148.3514 for Russell, 8,184.799 for Nasdaq, 2,425.773 for S&P, 70% of initial levels
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Trigger levels: | 984.3012 for Russell, 7,015.542 for Nasdaq, 2,079.234 for S&P, 60% of initial levels
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Pricing date: | Oct. 23
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Settlement date: | Oct. 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.30477%
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Cusip: | 48132PPS7
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