Published on 2/13/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $407,000 contingent interest autocallables on three stocks
By Sarah Lizee
Olympia, Wash., Feb. 13 – JPMorgan Chase Financial Co. LLC priced $407,000 of autocallable contingent interest notes due Aug. 5, 2021 linked to the least performing of the stocks of Alphabet Inc., Morgan Stanley and Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 13.2% per year if each stock closes at or above its coupon barrier, 60% 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 stock closes at or above its initial level on any quarterly autocall review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock 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: | Autocallable contingent interest notes
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| Underlying stocks: | Alphabet Inc., Morgan Stanley and Freeport-McMoRan Inc.
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| Amount: | $407,000
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| Maturity: | Aug. 5, 2021
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| Coupon: | 13.2% per year, payable quarterly if each stock closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly autocall review date other than final one
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| Initial levels: | $1,432.78 for Alphabet, $52.26 for Morgan Stanley, $11.10 for Freeport
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| Coupon barriers: | $859.668 for Alphabet, $31.356 for Morgan Stanley, $6.66 for Freeport, or 60% of initial levels
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| Trigger values: | $859.668 for Alphabet, $31.356 for Morgan Stanley, $6.66 for Freeport, or 60% of initial levels
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132H5C2
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