Published on 1/8/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million callable contingent interest notes on indexes
Chicago, Jan. 8 – JPMorgan Chase Financial Co. LLC sold $1 million of callable contingent interest notes due Nov. 4, 2020 linked to the lesser performing of the MSCI World index and the Russell 1000 Value index, 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 4.6% if each index closes at or above its interest barrier level, 80% of its initial level, on the review date for that period.
The notes will be callable at par plus any coupon on any interest payment date other than the first through fifth and final ones.
The payout at maturity will be par plus the final coupon, unless either index finishes below the 80% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | MSCI World index and the Russell 1000 Value index
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| Amount: | $1,000,000
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| Maturity: | Nov. 4, 2020
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| Coupon: | 4.6% annualized, payable monthly if each underlying index closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless either index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par on any interest payment date other than the first through fifth and final ones
|
| Initial levels: | 2,350.75 for MSCI, 1,345.80 for Russell
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| Interest barriers: | 1,880.60 for MSCI, 1,076.64 for Russell, 80% of initial levels
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| Trigger values: | 1,880.60 for MSCI, 1,076.64 for Russell, 80% of initial levels
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
|
| Cusip: | 48132HLC4
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