Published on 1/31/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.98 million contingent interest autocallables on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – JPMorgan Chase Financial Co. LLC priced $7.98 million of autocallable contingent interest notes due July 30, 2021 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 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 6.5% per year if each index closes at or above its coupon barrier, 70% 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 after six months.
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, 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: | Euro Stoxx 50 index, S&P 500 index and Russell 2000 index
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Amount: | $7,976,000
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Maturity: | July 30, 2021
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Coupon: | 6.5% 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 initial level and any index ever closes below trigger value, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date after six months
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Initial levels: | 3,719.22 for Stoxx, 1,658.314 for Russell, 3,276.24 for S&P
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Coupon barriers: | 2,603.454 for Stoxx, 1,160.8198 for Russell, 2,293.368 for S&P, or 70% of initial levels
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Trigger values: | 2,603.454 for Stoxx, 1,160.8198 for Russell, 2,293.368 for S&P, or 70% of initial levels
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.0694%
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Cusip: | 48132HA36
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