Published on 12/9/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.57 million autocallable notes tied to Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – JPMorgan Chase Financial Co. LLC priced $2.57 million of 0% autocallable notes due Dec. 1, 2022 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual premium of 10.75% if each index closes at or above its call level on any annual observation date. The call level will equal the initial level on the first observation date and will step down by 5% each year.
The payout at maturity will be par unless either index finishes below the 70% trigger level, 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $2.57 million
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| Maturity: | Dec. 1, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 10.75% annualized premium if each index closes at or above call level on any annual observation date; the call level is 100% of the initial level on the first observation date and steps down by 5% each year
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 1,624.231 for Russell, 3,705.55 for Stoxx
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| Trigger levels: | 1,136.9617 for Russell, 2,593.885 for Stoxx, 70% of initial levels
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
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| Agents: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48132FF43
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