Published on 10/7/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.38 million contingent interest autocalls on indexes
By Sarah Lizee
Olympia, Wash., Oct. 7 –JPMorgan Chase Financial Co. LLC priced $1.38 million of autocallable contingent interest notes due Dec. 31, 2020 linked to the lesser performing of the Nasdaq-100 index, the Russell 2000 index and S&P 500 index according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay contingent interest at an annual rate of 8.85% if each index closes at or above its 70% interest barrier on the related quarterly review date.
The notes will be called at par plus the contingent interest payment if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus any contingent interest payment due unless any index finishes below its initial level and any index has ever closed below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
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, S&P 500 and Nasdaq-100
|
| Amount: | $1,383,000
|
| Maturity: | Dec. 31, 2020
|
| Contingent interest payment: | 8.85%, payable each quarter that each index closes at or above its interest barrier on the related quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par plus any contingent interest payment due unless any index finishes below its initial level and any index has ever closed below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index
|
| Call: | Automatically at par plus the contingent interest payment if each index closes at or above its initial level on any quarterly review date, other than the final one
|
| Initial levels: | 7,681.579 for Nasdaq, 1,520.476 for Russell and 2,961.79 for S&P
|
| Interest barriers: | 5,377.1053 for Nasdaq, 1,064.3332 for Russell and 2,073.253 for S&P, 70% of initial levels
|
| Trigger levels: | 5,377.1053 for Nasdaq, 1,064.3332 for Russell and 2,073.253 for S&P, 70% of initial levels
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132FRJ7
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