Published on 11/20/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $532,000 contingent interest autocalls on Nasdaq, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – JPMorgan Chase Financial Co. LLC priced $532,000 of autocallable contingent interest notes due May 6, 2022 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its interest barrier level, 60% 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 final review dates.
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 the trigger level, 60% of its initial level, in which case investors will lose 1% for every 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: | Autocallable contingent interest notes
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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Amount: | $532,000
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Maturity: | May 6, 2022
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Coupon: | 10% per year, 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 unless any index finishes below initial level and any index ever closes below trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
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Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the final review dates
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Initial levels: | 3,369.16 for S&P, 11,279.91 for Nasdaq and 1,614.295 for Russell
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Interest barriers: | 2,021.496 for S&P, 6,767.946 for Nasdaq and 968.577 for Russell; 60% of initial levels
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Triggers: | 2,021.496 for S&P, 6,767.946 for Nasdaq and 968.577 for Russell; 60% of initial levels
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Pricing date: | Nov. 2
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Settlement date: | Nov. 5
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.70315%
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Cusip: | 48132PTQ7
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