Published on 10/17/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 contingent interest autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 17 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Oct. 20, 2022 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.2% per year if each index closes at or above its interest barrier, 80% of its initial level, on the review date for that quarter.
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 other than the first, second, third and final dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its buffer value, 80% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index falls below the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Dow Jones industrial average, Russell 2000 and Nasdaq-100
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| Amount: | $500,000
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| Maturity: | Oct. 20, 2022
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| Coupon: | 6.2% per year payable quarterly if each index closes at or above its interest barrier on the review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its buffer value, in which case investors will lose 1% for every 1% that the least-performing index finishes below its buffer
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first, second, third and final dates
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| Initial levels: | 1,523.302 for Russell, 7,942.851 for Nasdaq and 27,024.8 for Dow
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| Interest barriers: | 1,218.6416 for Russell, 6,354.2808 for Nasdaq and 21,619.84 for Dow, or 80% of initial levels
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| Buffer values: | 1,218.6416 for Russell, 6,354.2808 for Nasdaq and 21,619.84 for Dow, or 80% of initial levels
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| Pricing date: | Oct. 15
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| Settlement date: | Oct. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.65%
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| Cusip: | 48132FWY8
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