Published on 8/22/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.01 million contingent interest autocallables on indexes
By Sarah Lizee
Olympia, Wash., Aug. 22 – JPMorgan Chase Financial Co. LLC priced $1.01 million of autocallable contingent interest notes due Aug. 25, 2022 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 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 6% per year if each index closes at or above its interest barrier level, 65.75% 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, third 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, 65.75% 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.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $1.01 million
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| Maturity: | Aug. 25, 2022
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| Coupon: | 6% per year, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | 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
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the first, second, third and final review dates
|
| Initial levels: | 25,962.44 for Dow, 7,664.471 for Nasdaq and 1,498.006 for Russell
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| Interest barriers: | 17,070.3043 for Dow, 5,039.38968 for Nasdaq and 984.93895 for Russell; 65.75% of initial levels
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| Trigger values: | 17,070.3043 for Dow, 5,039.38968 for Nasdaq and 984.93895 for Russell; 65.75% of initial levels
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
|
| Cusip: | 48132FCK0
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