Published on 9/9/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $231,000 contingent interest autocalls on three stocks
By Sarah Lizee
Olympia, Wash., Sept. 9 – JPMorgan Chase Financial Co. LLC priced $231,000 of autocallable contingent interest notes due Sept. 8, 2023 linked to American International Group, Inc., Manulife Financial Corp. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.3% if the least performing stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the least performing stock closes at or above its initial level on any quarterly call review date other than the final one.
The payout at maturity will be par plus the coupon unless the least performing stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the least performing stock.
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 assets: | American International Group, Inc., Manulife Financial Corp. and MetLife, Inc.
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| Amount: | $231,000
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| Maturity: | Sept. 8, 2023
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| Coupon: | 13.3% annualized, payable quarterly if least performing 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 plus the coupon unless the least performing stock finishes below its trigger level, in which case investors will be fully exposed to any losses of least performing stock
|
| Call: | At par plus the contingent coupon if the least performing stock closes at or above initial level on any quarterly call review date other than the final one
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| Initial levels: | $29.83 for AIG, $15.05 for Manulife, $38.82 for MetLife
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| Coupon barrier levels: | $17.898 for AIG, $9.03 for Manulife, $23.292 for MetLife, 60% of initial level
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| Trigger levels: | $17.898 for AIG, $9.03 for Manulife, $23.292 for MetLife, 60% of initial level
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| Pricing date: | Sept. 3
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| Settlement date: | Sept. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132MW56
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