Published on 9/19/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.73 million autocallable yield notes on three indexes
By Sarah Lizee
Olympia, Wash., Sept. 19 – JPMorgan Chase Financial Co. LLC priced $1.73 million of 7.85% autocallable yield notes due Sept. 21, 2020 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $1,728,000
|
| Maturity: | Sept. 21, 2020
|
| Coupon: | 7.85%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless any index ever closes below trigger level during life of notes and any index finishes below its initial level, in which case full exposure to decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly review date other than the final date
|
| Initial levels: | 27,076.82 for Dow, 1,584.597 for Russell and 2,997.96 for S&P
|
| Trigger levels: | 18,953.774 for Dow, 1,109.2179 for Russell and 2,098.572 for S&P; 70% of initial levels
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.7%
|
| Cusip: | 48132FMK9
|
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