Published on 9/27/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.37 million yield notes linked to S&P 500
By Marisa Wong
Los Angeles, Sept. 28 – JPMorgan Chase Financial Co. LLC priced $1.37 million of 5% yield notes due Sept. 22, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will payable monthly.
The payout at maturity will be par unless the index finishes below its trigger level, 70% of its initial level, in which case investors will lose 1% for every 1% index decline below the initial level.
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: | Yield notes
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Underlying index: | S&P 500
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Amount: | $1,374,000
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Maturity: | Sept. 22, 2022
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Coupon: | 5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless index finishes below its trigger level, in which case full exposure to losses
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Initial level: | 3,319.47
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Trigger level: | 2,323.629, 70% of initial level
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Pricing date: | Sept. 18
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Settlement date: | Sept. 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.35728%
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Cusip: | 48132PBC7
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