Published on 6/25/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.66 million review notes linked to Russell 2000, S&P 500
By Angela McDaniels
Tacoma, Wash., June 25 – JPMorgan Chase Financial Co. LLC priced $3.66 million of 0% review notes due June 26, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 8.25% per year if each index closes at or above its initial level on any of four annual review dates.
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 plus 10%. Otherwise, investors will lose 1% for each 1% that the lesser-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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,658,000
|
| Maturity: | June 26, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| 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 lesser-performing index finishes below initial level
|
| Call: | Automatically at par plus call premium of 8.25% per year if each index closes at or above initial level on June25, 2020, June 21, 2021, June 21, 2022 or June 21, 2023
|
| Initial levels: | 1,549.628 for Russell 2000 and 2,950.46 for S&P 500
|
| Trigger values: | 1,084.7396 for Russell 2000 and 2,065.322 for S&P 500, or 70% of initial level
|
| Pricing date: | June 21
|
| Settlement date: | June 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48132CRP0
|
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