Published on 12/23/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.35 million contingent income autocallables linked to indexes
By Sarah Lizee
Olympia, Wash., Dec. 23 – JPMorgan Chase Financial Co. LLC priced $6.35 million of contingent income autocallable securities due Dec. 2, 2022 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above its downside threshold level, 75% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date other than the final determination date.
The payout at maturity will be par unless any index finishes below its downside threshold level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $6,351,000
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| Maturity: | Dec. 2, 2022
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| Coupon: | 8% per year, payable quarterly if each index closes at or above downside threshold on determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case exposure to decline of least-performing index
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| Call: | Automatically at par if each index closes at or above initial level on any determination date other than final determination date
|
| Initial levels: | 1,624.503 for Russell, 3,140.98 for S&P, 3,703.58 for Stoxx
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| Downside thresholds: | 1,218.37725 for Russell, 2,355.735 for S&P, 2,777.685 for Stoxx, or 75% of initial levels
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 48132FS49
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