Published on 12/18/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.03 million callable contingent interest on Russell, S&P, Stoxx
Chicago, Dec. 18 – JPMorgan Chase Financial Co. LLC priced $4.03 million of callable contingent interest notes due Dec. 14, 2020 linked to the lesser performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 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 8.65% if each index closes at or above its interest barrier level, 75% of its initial level, on the review date for that quarter.
The notes may be called at par plus any contingent coupon on any interest payment date at the issuer’s election.
The payout at maturity will be par plus the final coupon unless any index finishes below its 75% trigger value, in which case investors will lose 1% for each 1% decline of the lesser performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500, Euro Stoxx 50
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| Amount: | $4,033,000
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| Maturity: | Dec. 14, 2020
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| Coupon: | 8.65% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below its 75% trigger value, in which case investors will lose 1% for each 1% decline of the lesser performing index
|
| Call: | At par plus any contingent coupon on any quarterly review date at the issuer’s election
|
| Initial levels: | 1,624.503 for Russell, 3,140.98 for S&P, 3,703.58 for Stoxx
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| Interest barrier/trigger levels: | 1,218.37725 for Russell, 2,355.735 for S&P; 2,777.685 for Stoxx, 75% of initial levels
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132FZ58
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