Published on 8/30/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $226,000 capped notes linked to S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Aug. 30 – JPMorgan Chase Financial Co. LLC priced $226,000 of 0% capped notes due Feb. 28, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus the lesser-performing index’s return, subject to a maximum return of 10%.
If the final level of one index is greater than its initial level and the final level of the other index is equal to its initial level or the final level of each index is equal to or less than its initial level, the payout will be par plus the return of the lesser-performing index, subject to a minimum payout of $950 per $1,000 principal amount of notes.
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: | Capped notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $226,000
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| Maturity: | Feb. 28, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus lesser-performing index’s return, subject to 10% maximum return; if final level of one index is greater than initial level and final level of other index is equal to initial level or final level of each index is equal to or less than initial level, par plus return of lesser-performing index, subject to minimum payout of $950 per $1,000 principal amount of notes
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| Initial levels: | 2,869.16 for S&P 500 and 1,456.039 for Russell 2000
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.40018%
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| Cusip: | 48132CJ46
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