Published on 11/20/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.25 million review notes linked to Russell 2000, S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – JPMorgan Chase Financial Co. LLC priced $3.25 million of 0% review notes due Nov. 20, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 8% per year if each index closes at or above its initial level on any annual call date.
The payout at maturity will be par plus 10% unless the final level of either index is less than its initial level by more than 30%, in which case investors will lose 1% for each 1% that the lesser-performing index declines from initial.
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: | Review notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $3,251,000
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Maturity: | Nov. 20, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 10% unless final level of either index is less than initial level by more than 30%, in which case 1% loss for each 1% that lesser-performing index declines from initial level
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Call: | Automatically at par plus call premium of 8% per year if each index closes at or above initial level on an annual call date
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Initial levels: | 3,120.46 for S&P 500 and 1,596.454 for Russell 2000
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Trigger levels: | 2,184.332 for S&P 500 and 1,117.5178 for Russell 2000; 70% of initial levels
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Pricing date: | Nov. 15
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Settlement date: | Nov. 22
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48132FN44
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