Published on 12/13/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.49 million contingent interest autocallables linked to Nasdaq, Russell, S&P
By Angela McDaniels
Tacoma, Wash., Dec. 13 – JPMorgan Chase Financial Co. LLC priced $1.49 million of autocallable contingent interest notes due June 10, 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.
Each quarter, the notes will pay a contingent coupon at the rate of 7.1% 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 closes below its trigger value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $1,491,000
|
| Maturity: | June 10, 2021
|
| Coupon: | 7.1% 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 closes below trigger value during life of notes and any index finishes below initial level, in which 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 levels: | 8,308.396 for Nasdaq-100, 1,614.833 for Russell 2000 and 3,117.43 for S&P 500
|
| Trigger values: | 5,815.8772 for Nasdaq-100, 1,130.3831 for Russell 2000 and 2,182.201 for S&P 500, or 70% of initial levels
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132HEU2
|
© 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.
