Published on 11/8/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.54 million capped notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Nov. 8 – JPMorgan Chase Financial Co. LLC priced $1.54 million of 0% capped notes due April 29, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus the lesser-performing index’s return, subject to a maximum return of 14%.
If the final level of one index is greater than its initial level and the final level of the other index is equal to its initial level or the final level of each index is equal to or less than its initial level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level, subject to a minimum payout of $950 per $1,000 principal amount of notes.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Capped notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,539,000
|
| Maturity: | Aril 29, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above initial level, par plus lesser-performing index’s return, subject to 14% maximum return; if final level of one index is greater than initial level and final level of other index is equal to initial level or final level of each index is equal to or less than initial level, 1% loss for every 1% that lesser-performing index declines from initial level, subject to minimum payout of $950 per $1,000 principal amount of notes
|
| Initial levels: | 1,562.452 for Russell 2000 and 3,037.56 for S&P 500
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.53149%
|
| Cusip: | 48132FQN9
|
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