Published on 7/12/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.01 million review notes linked to Russell 2000, S&P 500, Dow
By Wendy Van Sickle
Columbus, Ohio, July 12 – JPMorgan Chase Financial Co. LLC priced $1.01 million of 0% review notes due July 15, 2024 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 5.15% per year if each index closes at or above its initial level on any of the first four annual review dates or above 60% of its initial level on the final review date.
If the notes are not called, investors will lose 1% for each 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: | Review notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
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Amount: | $1,005,000
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Maturity: | July 15, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | 1% loss for each 1% that least-performing index finishes below initial level
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Call: | Automatically at par plus call premium of 5.15% per year if each index closes at or above initial level on any of first four annual call review date or above 60% of initial level on final review date
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Initial levels: | 26,860.2 for Dow, 1,565.046 for Russell 2000 and 2,993.07 for S&P 500
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Trigger values: | 16,116.12 for Dow, 939.0276 for Russell 2000 and 1,795.842 for S&P 500, or 60% of initial level
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Pricing date: | July 10
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Settlement date: | July 17
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48132C4F7
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