Published on 12/23/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.75 million step-down trigger autocallable notes on indexes
By Sarah Lizee
Olympia, Wash., Dec. 23 – JPMorgan Chase Financial Co. LLC priced $5.75 million of step-down trigger autocallable notes due Dec. 6, 2024 linked to the Russell 2000 index, the S&P 500 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.
After one year, the notes will be automatically called at par of $10 plus 9% per year if each asset closes at or above its initial level on any quarterly observation date, except the final one when the call threshold will be the 70% downside threshold level.
If the notes are not subject to an automatic call, that means the final level of at least one asset will be less than its downside threshold, 70% of its initial level, and investors will be exposed to the decline of the lesser-performing asset from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $5.75 million
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| Maturity: | Dec. 6, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | After one year, at par plus 9% per year if each asset closes at or above its initial level on any quarterly observation date except the final one, when the call level will be the downside threshold
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| Payout at maturity: | Full exposure to decline of lesser-performing asset from initial level
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| Initial levels: | 1,602.630 for Russell, 3,093.20 for S&P and 3,610.99 for Stoxx
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| Downside thresholds: | 1,121.841 for Russell, 2,165.24 for S&P, 2,527.69 for Stoxx, 70% of initial levels
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| Pricing date: | Dec. 3
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| Settlement date: | Dec. 6
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48132J819
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