Published on 10/15/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.52 million autocallable contingent interest notes on Russell, S&P, Stoxx
Chicago, Oct. 15 – JPMorgan Chase Financial Co. LLC priced $2.52 million of autocallable contingent interest notes due Oct. 1, 2020 linked to the lesser performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 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 8% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final review dates.
The payout at maturity will be par plus the final coupon unless any index finishes below its initial level and any index closes below its 70% trigger value on any trading day during the life of the notes, in which case investors will lose 1% for each 1% decline of the lesser performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $2,518,000
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| Maturity: | Oct. 1, 2020
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| Coupon: | 8% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless any index finishes below initial level and either index closes below trigger level on any day during the life of the notes, in which case 1% loss for each 1% decline of lesser performing index
|
| Call: | At par plus contingent coupon if any index closes at or above initial level on any quarterly review date other than first and final ones
|
| Initial levels: | 1,520.476 for Russell, 2,961.79 for S&P and 3,545.88 for Stoxx
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| Interest barrier/trigger levels: | 1,064.3332 for Russell, 2,073.253 for S&P and 2,482.116 for Stoxx; 70% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Oct. 2
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.725%
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| Cusip: | 48132FLA2
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