Published on 12/6/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.1 million of autocallable contingent interest notes linked to indexes
By Devika Patel
Knoxville, Tenn., Dec. 6 – JPMorgan Chase Financial Co. LLC sold $3.1 million of autocallable contingent interest notes due Dec. 2, 2020 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 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.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if each index closes at or above its coupon barrier level, 80% 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 final one.
The payout at maturity will be par plus the final coupon unless any index finishes below its initial level and any index closes below the 70% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline of the worse-performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Dow Jones industrial average, Nasdaq-100, Russell 2000
|
| Amount: | $3,099,000
|
| Maturity: | Dec. 2, 2020
|
| Coupon: | 10.5% annualized, payable quarterly if each underlying index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below initial level and any index closes below trigger level during the life of the notes, in which case 1% loss for each 1% decline of worse-performing index from initial level
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
|
| Initial levels: | 28,121.68 for Dow, 8,385.745 for Nasdaq and 1,624.231 for Russell
|
| Coupon barrier levels: | 22,497.344 for Dow, 6,708.596 for Nasdaq and 1,299.3848 for Russell; 80% of initial levels
|
| Trigger levels: | 19,685.176 for Dow, 5,870.0215 for Nasdaq and 1,136.9617 for Russell; 70% of initial levels
|
| Pricing date: | Nov. 26
|
| Settlement date: | Dec. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.64744%
|
| Cusip: | 48132FV86
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
