Published on 9/30/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.9 million contingent interest autocallables linked to S&P, Stoxx, Russell
By Sarah Lizee
Olympia, Wash., Sept. 30 – JPMorgan Chase Financial Co. LLC priced $5.07 million of autocallable contingent interest notes due March 31, 2021 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 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, 70% of its initial level, on the review date for that month
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly review date other than the final 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500, Euro Stoxx 50 and Russell 2000
|
| Amount: | $5,074,000
|
| Maturity: | March 31, 2021
|
| Coupon: | 8.5% per year, payable monthly if each index closes at or above interest barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below trigger value, in which case 1% loss for every 1% that least-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
|
| Initial levels: | 1,550.654 for Russell, 2,984.87 for S&P and 3,513.03 for Stoxx
|
| Interest barriers: | 1,085.4578 for Russell, 2,089.409 for S&P and 2,459.121 for Stoxx, or 70% of initial levels
|
| Trigger values: | 1,085.4578 for Russell, 2,089.409 for S&P and 2,459.121 for Stoxx, or 70% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.07014%
|
| Cusip: | 48132FHM1
|
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