Published on 12/23/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.9 million contingent interest autocalls on stocks
By Devika Patel
Knoxville, Tenn., Dec. 23 – JPMorgan Chase Financial Co. LLC priced $1.9 million of autocallable contingent interest notes due Dec. 31, 2020 linked to the least performing of the common stocks of Amazon.com, Inc., Netflix, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 13.5% if each stock closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly review date other than the final date beginning on March 26, 2020.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing stock from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Amazon.com, Inc. (Symbol: AMZN), Netflix, Inc. (Symbol: NFLX), Walt Disney Co. (Symbol: DIS)
|
| Amount: | $1,896,000
|
| Maturity: | Dec. 31, 2020
|
| Coupon: | 13.5% annualized, payable monthly if each underlying stock closes at or above barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any stock finishes below barrier level, in which case 1% loss for each 1% decline of worse performing stock from initial level
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly review date other than the final date beginning on March 26, 2020
|
| Initial levels: | $1,792.28 for Amazon, $332.22 for Netflix and $146.15 for Disney
|
| Interest/barrier levels: | $1,254.596 for Amazon, $232.554 for Netflix and $102.305 for Disney; 70% of initial levels
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132HBH4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
