Published on 8/19/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $813,000 contingent interest autocallables on indexes
By Sarah Lizee
Olympia, Wash., Aug. 19 – JPMorgan Chase Financial Co. LLC priced $813,000 of autocallable contingent interest notes due Aug. 19, 2021 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 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 11.55% per year if each index closes at or above its interest barrier level, 80% 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 monthly review date other than the first, second and final review date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 70% 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: | Russell 2000, S&P 500 and Nasdaq-100
|
| Amount: | $813,000
|
| Maturity: | Aug. 19, 2021
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| Coupon: | 11.55% per year, payable monthly if each index closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| 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
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than the first, second and final ones
|
| Initial levels: | 7,490.130 for Nasdaq, 1,467.522 for Russell and 2,840.60 for S&P
|
| Interest barriers: | 5,992.104 for Nasdaq, 1,174.0176 for Russell and 2,272.48 for S&P; 80% of initial levels
|
| Trigger values: | 5,243.091 for Nasdaq, 1,027.2654 for Russell and 1,988.42 for S&P; 70% of initial levels
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.44859%
|
| Cusip: | 48132CY80
|
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