Published on 6/11/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $530,000 callable contingent interest notes on Russell, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, June 11 – JPMorgan Chase Financial Co. LLC sold $530,000 of callable contingent interest notes due June 3, 2024 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each index closes at or above its interest barrier level, 60% of its initial level, on the review date for that quarter.
The notes will be callable at par on any interest payment date other than the first and final ones.
The payout at maturity will be par plus the final coupon, unless any index finishes below the 60% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500 and Nasdaq-100
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| Amount: | $530,000
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| Maturity: | June 3, 2024
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| Coupon: | 6% annualized, payable quarterly if each underlying index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par on any quarterly interest payment date other than first and final ones
|
| Initial levels: | 1,489.952 for Russell, 2,783.02 for S&P and 7,216.859 for Nasdaq
|
| Interest barriers: | 893.9712 for Russell, 1,669.812 for S&P and 4,330.1154 for Nasdaq, 60% of initial levels
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| Trigger values: | 893.9712 for Russell, 1,669.812 for S&P and 4,330.1154 for Nasdaq, 60% of initial levels
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| Pricing date: | May 29
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| Settlement date: | June 5
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
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| Cusip: | 48132CC92
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