Published on 9/29/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $159,000 autocallable contingent interest notes on Nasdaq, Russell
Chicago, Sept. 30 – JPMorgan Chase Financial Co. LLC priced $159,000 of autocallable contingent interest notes due Feb. 26, 2021 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.25% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any review date except the first and final review dates.
The payout at maturity will be par plus the coupon unless either index finishes below the 75% trigger value, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 index and Nasdaq-100 index
|
| Amount: | $159,000
|
| Maturity: | Feb. 26, 2021
|
| Coupon: | 6.25% payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date except first and final
|
| Payout at maturity: | Par plus coupon unless index closes below trigger level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 1,456.039 for Russell 2000, 7,566.027 for Nasdaq-100
|
| Interest barriers: | 1,092.0293 for Russell 2000, 5,674.5203 for Nasdaq-100, 75% of initial levels
|
| Trigger value: | 1,092.0293 for Russell 2000, 5,674.5203 for Nasdaq-100, 75% of initial levels
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48132CJ38
|
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