Published on 6/25/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $595,000 contingent interest autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, June 25 – JPMorgan Chase Financial Co. LLC priced $595,000 of autocallable contingent interest notes due June 23, 2022 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 6.75% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first, second, third and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its 70% trigger level, 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
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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, S&P 500 index and Dow Jones industrial average
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| Amount: | $595,000
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| Maturity: | June 23, 2022
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| Coupon: | 6.75% per year, payable each quarter that each index closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger level, in which case 1% loss for every 1% that least-performing index finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first, second, third and final review dates
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| Initial index levels: | 1,563.495 for Russell, 2,954.18 for S&P and 26,753.17 for Dow
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| Coupon barriers: | 1,094.4465 for Russell, 2,067.926 for S&P and 18,727.219 for Dow; 70% of initial levels
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| Trigger levels: | 1,094.4465 for Russell, 2,067.926 for S&P and 18,727.219 for Dow; 70% of initial levels
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| Pricing date: | June 20
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| Settlement date: | June 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48132CWH2
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