Published on 11/21/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $559,000 contingent interest notes on Nasdaq, Russell, S&P
By Taylor Fox
New York, Nov. 23 – JPMorgan Chase Financial Co. LLC priced $559,000 of contingent interest notes due Feb. 10, 2022 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 9.6% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that period.
The payout at maturity will be par unless any index finishes below its 70% trigger value, in which case investors will lose 1% for every 1% that the least-performing index finishes below 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: | Contingent interest notes
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| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
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| Amount: | $559,000
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| Maturity: | Feb. 10, 2022
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| Coupon: | 9.6% per year, payable quarterly if each index closes at or above interest barrier value on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger value, in which case 1% loss for every 1% that least-performing index finishes below initial level
|
| Initial index levels: | 12,091.35 for Nasdaq, 1,644.159 for Russell and 3,509.44 for S&P
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| Trigger values: | 8,463.945 for Nasdaq, 1,150.9113 for Russell and 2,456.608 for S&P, or 70% of initial levels
|
| Pricing date: | Nov. 6
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| Settlement date: | Nov. 12
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.35%
|
| Cusip: | 48132PTU8
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