Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.25 million contingent interest autocallables linked to Nasdaq, Russell, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Aug. 13 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due Aug. 11, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.9% per year if each index closes at or above its interest barrier, 75% 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 and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 65% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and Euro Stoxx 50
|
| Amount: | $1.25 million
|
| Maturity: | Aug. 11, 2023
|
| Coupon: | 9.9% per year, payable quarterly if each index closes at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| 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
|
| 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 and final ones
|
| Initial levels: | 7,646.268 for Nasdaq-100, 1,513.043 for Russell 2000 and 3,333.74 for Euro Stoxx 50
|
| Interest barriers: | 5,734.701 for Nasdaq-100, 1,134.78225 for Russell 2000 and 2,500.305 for Euro Stoxx 50, or 75% of initial levels
|
| Trigger values: | 4,970.0742 for Nasdaq-100, 983.47795 for Russell 2000 and 2,166.931 for Euro Stoxx 50, or 65% of initial levels
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 13
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.45%
|
| Cusip: | 48132CX99
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