Published on 3/24/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $10.1 million autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, March 24 – JPMorgan Chase Financial Co. LLC priced $10.1 million of 10.5% autocallable yield notes due March 25, 2021 linked to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on any monthly review date after six months other than the final date.
If the notes are not called, the payout at maturity will be par unless any index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $10,101,000
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| Maturity: | March 25, 2021
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| Coupon: | 10.5% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger level on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index
|
| Call: | At par if each index closes at or above its initial level on any monthly review date after six months other than final date
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| Initial levels: | 6,994.291 for Nasdaq, 1,013.889 for Russell and 2,304.92 for S&P
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| Trigger levels: | 4,896.0037 for Nasdaq, 709.7223 for Russell and 1,613.444 for S&P; 70% of initial levels
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| Pricing date: | March 20
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| Settlement date: | March 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48132HM33
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