Published on 6/18/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $662,000 contingent interest autocallables on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, June 18 – JPMorgan Chase Financial Co. LLC priced $662,000 of autocallable contingent interest notes due Dec. 17, 2020 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its coupon barrier, 80% of its initial level, on the associated review date.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly autocall review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger value, 80% of 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $662,000
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| Maturity: | Dec. 17, 2020
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| Coupon: | 10% per year, payable monthly if each index closes at or above coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger value, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly autocall review date other than final one
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| Initial levels: | 1,387.685 for Russell and 3,041.31 for S&P
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| Coupon barriers: | 1,110.148 for Russell and 2,433.048 for S&P, or 80% of initial levels
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| Trigger values: | 1,110.148 for Russell and 2,433.048 for S&P, or 80% of initial levels
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| Pricing date: | June 12
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| Settlement date: | June 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132MDW8
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