Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.34 million 6% autocallable yield notes linked to S&P, Russell
By Kiku Steinfeld
Chicago, Oct. 10 – JPMorgan Chase Financial Co. LLC priced $7.34 million of 6% autocallable yield notes due March 24, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable semiannually.
After six months, the notes will be automatically called at par plus the interest payment if each index closes at or above its initial level on any semiannual review date other than the final one.
The payout at maturity will be par plus the final interest payment unless either index closes below its trigger level, 80% of its initial level, in which case investors will lose 1.25% for every 1% beyond the 20% buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $7,359,000
|
| Maturity: | March 24, 2021
|
| Coupon: | 6%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par plus final interest payment unless either index closes below its trigger level, 80% of initial level, in which case 1.25% loss for every 1% beyond 20% buffer
|
| Call: | Automatically at par if each index closes at or above initial level on March 19, 2020 or Sept 21, 2020
|
| Initial levels: | 1,561.474 for Russell 2000 and 3,006.79 for S&P 500
|
| Trigger values: | 1,249.1792 for Russell 2000 and 2405.432 for S&P 500, or 80% of initial levels
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.05%
|
| Cusip: | 48132FB62
|
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