Published on 12/10/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.48 million 8.75% autocallable yield notes on indexes
By Sarah Lizee
Olympia, Wash., Dec. 10 – JPMorgan Chase Financial Co. LLC priced $4.48 million of 8.75% autocallable yield notes due Dec. 1, 2020 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial share price on any quarterly observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its trigger value, 70% of its initial level, on any day during the life of the notes, in which case investors will have one-to-one exposure to the decline of the least-performing index.
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 yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $4,477,000
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| Maturity: | Dec. 1, 2020
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| Coupon: | 8.75%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below trigger value on any day during the life of the notes, in which case one-to-one exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial share price on any quarterly observation date other than final one
|
| Initial levels: | 8,371.928 for Nasdaq, 1,621.904 for Russell and 3,133.64 for S&P
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| Trigger values: | 5,860.3496 for Nasdaq, 1,135.3328 for Russell and 2,193.548 for S&P; 70% of initial levels
|
| Pricing date: | Nov. 25
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| Settlement date: | Nov. 29
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48132FP26
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