Published on 8/21/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.04 million callable contingent interest notes on indexes
By Sarah Lizee
Olympia, Wash., Aug. 21 – JPMorgan Chase Financial Co. LLC sold $1.04 million of callable contingent interest notes due Aug. 21, 2024 linked to the lesser performing of the Russell 2000 index, the Nasdaq-100 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.85% if each index closes at or above its interest barrier level, 60% of its initial level, on the review date for that quarter.
The notes will be callable at par on any interest payment date other than the first, second, third and final ones.
The payout at maturity will be par plus the final coupon, unless any index finishes below the 60% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000, Nasdaq-100 and Euro Stoxx 50
|
| Amount: | $1.04 million
|
| Maturity: | Aug. 21, 2024
|
| Coupon: | 6.85% annualized, payable quarterly if each underlying index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par on any quarterly interest payment date other than the first, second, third and final ones
|
| Initial levels: | 7,604.109 for Nasdaq, 1,493.640 for Russell and 3,329.08 for Euro Stoxx
|
| Interest barriers: | 4,562.4654 for Nasdaq, 896.184 for Russell and 1,997.448 for Euro Stoxx, 60% of initial levels
|
| Trigger values: | 4,562.4654 for Nasdaq, 896.184 for Russell and 1,997.448 for Euro Stoxx, 60% of initial levels
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.125%
|
| Cusip: | 48132FAR7
|
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