Published on 9/5/2019 in the Prospect News Structured Products Daily.
New Issue: JPM prices $5.01 million contingent coupon autocallable yield notes on indexes
By Sarah Lizee
Olympia, Wash., Sept. 5 – JPMorgan Chase Financial Co. LLC priced $5.01 million of contingent coupon autocallable yield notes due Sept. 2, 2021 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 12.4% per year if each index closes at or above its trigger value, 80% of its initial share price, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial share price on any quarterly observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless any index finishes below its trigger value, in which case investors will have one-to-one exposure to the decline of the least-performing index.
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: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $5,012,000
|
| Maturity: | Sept. 2, 2021
|
| Coupon: | 12.4% per year, payable quarterly if each index closes at or above trigger value on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, in which case one-to-one exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial share price on any quarterly observation date other than final one
|
| Initial levels: | 2,924.58 for S&P, 1,496.720 for Russell and 7,702.312 for Nasdaq
|
| Trigger values: | 2,339.664 for S&P, 1,197.376 for Russell and 6,161.8496 for Nasdaq; 80% of initial levels
|
| Pricing date: | Aug. 29
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| Settlement date: | Sept. 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48132FEE2
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