Published on 10/9/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $350,000 contingent interest autocalls on indexes
By Sarah Lizee
Olympia, Wash., Oct. 9 – JPMorgan Chase Financial Co. LLC priced $350,000 of autocallable contingent interest notes due Oct. 6, 2021 linked to the lesser performing of the Nasdaq-100 index, the Russell 2000 index and Dow Jones industrial average, 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 5.35% 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 first and final ones.
The payout at maturity will be par plus any contingent interest payment due unless any index finishes below its 60% trigger level, 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, Dow Jones industrial average and Nasdaq-100
|
| Amount: | $350,000
|
| Maturity: | Oct. 6, 2021
|
| Coupon: | 5.35%, 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 trigger level, 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 first and final ones
|
| Initial levels: | 7,684.142 for Nasdaq, 1,493.432 for Russell and 26,573.04 for Dow
|
| Interest barriers: | 5,378.8994 for Nasdaq, 1,045.4024 for Russell and 18,601.128 for Dow, 70% of initial levels
|
| Trigger levels: | 4,610.4852 for Nasdaq, 896.0592 for Russell and 15,943.824 for Dow, 60% of initial levels
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.6%
|
| Cusip: | 48132FSE7
|
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