Published on 9/27/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.57 million contingent interest autocallables linked to S&P, Russell, Nasdaq
By Angela McDaniels
Tacoma, Wash., Sept. 27 – JPMorgan Chase Financial Co. LLC priced $2.57 million of 0% autocallable contingent buffered equity notes due Sept. 30, 2022 linked to the least performing of 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.
The notes will be automatically called at par plus a call premium of 11.% per year if each index closes at or above its initial level on any semiannual review date other than the final review date.
If the notes have not been called and the final level of each index is greater than its initial level, the payout at maturity will be par plus the return of the least-performing index.
If the final value of one or more indexes is greater than its initial value and the final value of the other index or indexes is equal to its initial value or is less than its initial value by up to 30% or if the final value of each index is equal to its initial value or is less than its initial value by up to 30%, the payout will be par.
If the final value of any index is less than its initial value by more than 30%, investors will lose 1% for every 1% that the least-performing index declines from 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.
|
| Issue: | Autocallable contingent buffered equity notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100
|
| Amount: | $2,573,000
|
| Maturity: | Sept. 30, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than initial level, par plus return of least-performing index; if final value of one or more indexes is greater than initial value and final value of other index or indexes is equal to initial value or is less than initial value by up to 30% or if final value of each index is equal to initial value or is less than initial value by up to 30%, par; if final value of any index is less than initial value by more than 30%, 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically at par plus 11.5% per year if each index closes at or above initial level on March 26, 2020, Sept. 28, 2020, March 26, 2021, Sept. 27, 2021 or March 28, 2022
|
| Initial levels: | 2,984.87 for S&P 500, 1,550.654 for Russell 2000 and 7,803.542 for Nasdaq-100
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| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132FHB5
|
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