Published on 6/13/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.92 million contingent interest autocallables linked to S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, June 13 – JPMorgan Chase Financial Co. LLC priced $1.92 million of autocallable contingent interest notes due Sept. 9, 2020 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 7.15% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final review date.
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, 60% of its initial level, during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its 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: | Autocallable contingent interest notes
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| Underlying indexes: | Nasdaq-100, S&P 500 and Russell 2000
|
| Amount: | $1,917,000
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| Maturity: | Sept. 9, 2020
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| Coupon: | 7.15% per year, payable quarterly if each index closes at or above coupon barrier on review date for that period
|
| 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 1% loss for every 1% that least-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any review date other than final one
|
| Initial index levels: | 6,978.018 for Nasdaq, 1,469.983 for Russell 2000 and 2,744.45 for S&P 500
|
| Coupon barriers: | 4,884.6126 for Nasdaq, 1,028.9881 for Russell 2000 and 2,064.045 for S&P 500, or 70% of initial levels
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| Trigger values: | 4,186.8108 for Nasdaq, 881.9898 for Russell 2000 and 1,646.67 for S&P 500, or 60% of initial levels
|
| Pricing date: | June 3
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| Settlement date: | June 6
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.775%
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| Cusip: | 48132CNX7
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