Published on 8/22/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 digital notes on indexes, ETFs
By Sarah Lizee
Olympia, Wash., Aug. 22 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% digital notes due Sept. 24, 2020 linked to the Russell 2000 index, the S&P 500 index, the iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
A trigger event occurs if any asset closes below its trigger value, 70% of its initial value, on any day during the life of the notes.
If a trigger event has not occurred, the payout at maturity will be par plus the contingent digital return of 12.4%.
If a trigger event has occurred but each asset finishes at or above its initial value, the payout will be par.
Otherwise, investors will be fully exposed to any decline of the worst performing asset.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index, iShares MSCI Emerging Markets ETF and iShares MSCI EAFE ETF
|
| Amount: | $500,000
|
| Maturity: | Sept. 24, 2020
|
| Coupon: 0%
|
| Price: | Par
|
| Payout at maturity: | If each asset closes at or above trigger value every day during life of notes, par plus 12.4%; if any asset closes below its trigger value on any day during life of notes but each asset finishes at or above initial value, par; otherwise, 1% loss for each 1% decline of worst performing asset
|
| Initial value: | 1,461.648 for Russell, 2,847.60 for S&P, $61.51 for EAFE ETF and $39.00 for EM ETF
|
| Trigger value: | 1,023.1536 for Russell, 1,993.32 for S&P, $43.057 for EAFE ETF and $27.30 for EM ETF; 70% of initial value
|
| Pricing date: | Aug. 20
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| Settlement date: | Aug. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
|
| Cusip: | 48132FCM6
|
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