Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.88 million contingent interest autocalls on Nasdaq, Russell, S&P
By Sarah Lizee
Olympia, Wash., July 5 – JPMorgan Chase Financial Co. LLC priced $1.88 million of autocallable contingent interest notes due July 1, 2021 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 8.5% per year if each index closes at or above its trigger value, 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 other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing index finishes below 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 indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $1,882,000
|
| Maturity: | July 1, 2021
|
| Coupon: | 8.5% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, in which case 1% loss for every 1% that least-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
|
| Initial index levels: | 7,671.075 for Nasdaq-100, 1,566.572 for Russell 2000 and 2,941.76 for S&P 500
|
| Trigger values: | 5,369.7525 for Nasdaq-100, 1,096.6004 for Russell 2000 and 2,059.232 for S&P 500, or 70% of initial levels
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.26316%
|
| Cusip: | 48132CRE5
|
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