Published on 10/21/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.74 million contingent interest autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – JPMorgan Chase Financial Co. LLC priced $1.74 million of autocallable contingent interest notes due Jan. 22, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date review date other than the final 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 has ever closed below its trigger value, 70% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index declines.
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: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100
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| Amount: | $1,738,000
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| Maturity: | Jan. 22, 2021
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| Coupon: | 10% per year payable quarterly if each index closes at or above its interest barrier on the review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its trigger value, 70% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index declines
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | 7,942.144 for Nasdaq, 1,541.844 for Russell and 2,997.95 for S&P
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| Interest barriers: | 5,559.5008 for Nasdaq, 1,079.2908 for Russell and 2,098.565 for S&P, or 70% of initial levels
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| Trigger values: | 5,559.5008 for Nasdaq, 1,079.2908 for Russell and 2,098.565 for S&P, or 70% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.775%
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| Cusip: | 48132FVV5
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