Published on 10/30/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $469,000 review notes linked to Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, Oct. 30 – JPMorgan Chase Financial Co. LLC priced $469,000 of 0% review notes due Oct. 26, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 10.71% if each index closes at or above its call value, 100% of its initial level, on any of five biannual review dates beginning Oct. 26, 2021.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Review notes
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| Underlying indexes: | Nasdaq-100, Russell 2000 and Dow Jones industrial average
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| Amount: | $469,000
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| Maturity: | Oct. 26, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if final level of each index is greater than or equal to trigger value; otherwise, 1% loss for each 1% that least-performing index finishes below initial level
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| Call: | Automatically at par plus call premium of 10.71% annualized if each index closes at or above 100% of initial level on any biannual review date beginning Oct. 26, 2021
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| Initial levels: | 1,640.502 for Russell, 11,692.57 for Nasdaq, 28,335.57 for Dow
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| Trigger values: | 1,148.3514 for Russell, 8,184.799 for Nasdaq, 19,834.899 for Dow ;70% 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: | 0.45%
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| Cusip: | 48132PPE8
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