Published on 1/16/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $721,000 contingent interest autocallables on indexes
By Sarah Lizee
Olympia, Wash., Jan. 16 – JPMorgan Chase Financial Co. LLC priced $721,000 of autocallable contingent interest notes due Oct. 19, 2020 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 5.35% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date other than the first and last ones.
If the notes have not been 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 lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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 contingent interest notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Euro Stoxx 50 index
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| Amount: | $721,000
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| Maturity: | Oct. 19, 2020
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| Coupon: | 5.35% per year, payable monthly if each index closes at or above coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index ever closes below its trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date other than first and last ones
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| Initial levels: | 9,033.420 for Nasdaq, 1,675.741 for Russell and 3,774.88 for Stoxx
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| Coupon barriers: | 6,775.065 for Nasdaq, 1,256.80575 for Russell and 2,831.16 for Stoxx, or 75% of initial levels
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| Trigger values: | 6,323.394 for Nasdaq, 1,173.0187 for Russell and 2,642.416 for Stoxx, or 70% of initial levels
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.55%
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| Cusip: | 48132HRL8
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