Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $883,000 contingent interest autocallables linked to Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 13 – JPMorgan Chase Financial Co. LLC priced $883,000 of autocallable contingent interest notes due Aug. 11, 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.
Each month, the notes will pay a contingent coupon at the rate of 6% per year if each index closes at or above its trigger value, 69% 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 quarterly review date after one year.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 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: | Nasdaq-100, Russell 2000 and S&P 500
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Amount: | $883,000
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Maturity: | Aug. 11, 2022
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Coupon: | 6% per year, payable monthly if each index closes at or above trigger value 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 trigger value, in which 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 after one year
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Initial levels: | 7,724.83 for Nasdaq-100, 1,532.132 for Russell 2000 and 2,938.09 for S&P 500
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Trigger values: | 5,330.1327 for Nasdaq-100, 1,057.17108 for Russell 2000 and 2,027.2821 for S&P 500, or 69% of initial levels
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Pricing date: | Aug. 8
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Settlement date: | Aug. 13
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.95%
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Cusip: | 48132CY98
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