Published on 2/11/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $930,000 contingent interest autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 11 – JPMorgan Chase Financial Co. LLC priced $930,000 of autocallable contingent interest notes due Feb. 4, 2025 linked to the least performing of the Nasdaq-100 index, the Euro Stoxx Select Dividend 30 index and the Russell 2000 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 7.35% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that quarter.
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, second, third and last ones.
If the notes have not been called, the payout at maturity will be par unless any index finishes 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: | Nasdaq-100 index, Euro Stoxx Select Dividend 30 index and Russell 2000 index
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| Amount: | $930,000
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| Maturity: | Feb. 4, 2025
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| Coupon: | 7.35% per year, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger value, 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, second, third and last ones
|
| Initial levels: | 9,136.087 for Nasdaq, 1,648.219 for Russell and 2,020.32 for Stoxx
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| Coupon barriers: | 6,935.2609 for Nasdaq, 1,153.7533 for Russell and 1,414.224 for Stoxx, or 70% of initial levels
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| Trigger values: | 6,935.2609 for Nasdaq, 1,153.7533 for Russell and 1,414.224 for Stoxx, or 70% of initial levels
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| Pricing date: | Jan. 30
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| Settlement date: | Feb. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.125%
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| Cusip: | 48132HXA5
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