Published on 1/14/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $835,000 of 6.75% autocallable yield notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Jan. 14 – JPMorgan Chase Financial Co. LLC priced $835,000 of 6.75% autocallable yield notes due April 15, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
The notes will be automatically called at par plus the interest payment if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final interest payment unless either index finishes below its initial level and either index closes below its trigger level, 70% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% decline of the lesser performing index.
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 yield notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $835,000
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| Maturity: | April 15, 2021
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| Coupon: | 6.75%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus the final interest payment unless either index finishes below its initial level and either index closes below its trigger level, 70% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% decline of the lesser performing index
|
| Call: | Automatically at par if each index closes at or above initial level on quarterly call date
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| Initial levels: | 1,657.643 for Russell 2000 and 3,265.35 for S&P 500
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| Trigger values: | 1,160.3501 for Russell 2000 and 2,285.745 for S&P 500, or 70% of initial levels
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132HSH6
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