Published on 10/17/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.82 million contingent interest autocallables on indexes
By Sarah Lizee
Olympia, Wash., Oct. 17 – JPMorgan Chase Financial Co. LLC priced $3.82 million of autocallable contingent interest notes due April 15, 2021 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 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% 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 plus the contingent coupon if each index closes at or above its initial level on any quarterly review date 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 has ever closed below its trigger value, 70% of its initial level, on any day during the life of the notes, 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.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $3.82 million
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| Maturity: | April 15, 2021
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| Coupon: | 8% per year payable monthly if each index closes at or above its interest barrier on the review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date
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| Initial levels: | 1,511.900 for Russell, 2,970.27 for S&P and 3,569.92 for Stoxx
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| Interest barriers: | 1,058.33 for Russell, 2,079.189 for S&P and 2,498.944 for Stoxx, or 70% of initial levels
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| Trigger values: | 1,058.33 for Russell, 2,079.189 for S&P and 2,498.944 for Stoxx, or 70% of initial levels
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.08508%
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| Cusip: | 48132FRG3
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