Published on 5/27/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.42 million 10% autocallable yield notes on three indexes
Chicago, May 27 – JPMorgan Chase Financial Co. LLC priced $3.42 million of 10% autocallable yield notes due May 25, 2021 linked to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable monthly.
After six months the notes will be called at par if each index closes at or above its initial level on any quarterly review date.
If the notes are not called, the payout at maturity will be par unless any index closes below its trigger level, 66% of its initial level, on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least 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: | Nasdaq-100 index, S&P 500 index and Dow Jones industrial average
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Amount: | $3,422,000
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Maturity: | May 25, 2021
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Coupon: | 10% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any index closes below its trigger level on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index
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Call: | After six months at par if each index closes at or above its initial level on any quarterly review date
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Initial levels: | 9,485.02 for Nasdaq, 24,575.90 for Dow and 2,971.61 for S&P
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Trigger levels: | 6,260.1132 for Nasdaq, 16,220.094 for Dow and 1,961.2626 for S&P; 66% of initial levels
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Pricing date: | May 20
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Settlement date: | May 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.975%
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Cusip: | 48132K4M4
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