Published on 7/23/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.65 million review notes linked to Russell 2000, S&P 500, the Dow
By Wendy Van Sickle
Columbus, Ohio, July 23 – JPMorgan Chase Financial Co. LLC priced $1.65 million of 0% review notes due July 23, 2025 linked to the lesser 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 11.55% per year if each index closes at or above its initial level on any of six annual review dates.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout will be par. Otherwise, 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: | $1,652,000
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Maturity: | July 23, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par if final level of each index is greater than or equal to trigger value; otherwise, 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 11.55% per year if each index closes at or above initial level on any of six annual review dates
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Initial levels: | 27,222.97 for Dow, 1,547.896 for Russell 2000 and 2,976.61 for S&P 500
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Trigger values: | 19,056.079 for Dow, 1,083.5272 for Russell 2000 and 2,083.627 for S&P 500, or 70% of initial level
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Pricing date: | July 19
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Settlement date: | July 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48132C4D2
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