Published on 9/19/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.17 million contingent interest autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 19 – JPMorgan Chase Financial Co. LLC priced $5.17 million of autocallable contingent interest notes due March 19, 2021 tied to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8.5% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
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 call review date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its trigger value, 70% 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index and S&P 500 index
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Amount: | $5,168,000
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Maturity: | March 19, 2021
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Coupon: | 8.5% per year, payable monthly if each index closes at or above interest barrier level on review date for that month
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Price: | Par
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Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below its trigger value during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date
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Initial levels: | 1,584.597 for Russell, 2,997.96 for S&P and 3,518.45 for Stoxx
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Interest barriers: | 1,109.2179 for Russell, 2,098.572 for S&P and 2,462.915 for Stoxx; 70% of initial levels
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Trigger values: | 1,109.2179 for Russell, 2,098.572 for S&P and 2,462.915 for Stoxx; 70% of initial levels
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Pricing date: | Sept. 16
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Settlement date: | Sept. 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.08732%
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Cusip: | 48132FGW0
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