Published on 5/12/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.67 million yield notes due 2021 tied to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, May 12 – JPMorgan Chase Financial Co. LLC priced $1.67 million of 9.5% yield notes due Aug. 11, 2021 linked to the lesser performing of 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.
Interest is payable monthly.
The payout at maturity will be par unless either index closes below 72.5% of its initial level on any day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% loss of the worse performing asset.
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: | Yield notes
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Underlying assets: | Russell 2000 index and S&P 500 index
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Amount: | $1,667,000
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Maturity: | Aug. 11, 2021
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Coupon: | 9.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index closes below 72.5% of its initial level on any day during the life of the notes and either index finishes below initial level, in which case investors will lose 1% for each 1% loss of the worse performing asset
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Initial levels: | 2,848.42 for S&P, 1,263.008 for Russell
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Trigger levels: | 2,065.1045 for S&P, 915.6808 for Russell; 72.5% of initial levels
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Pricing date: | May 6
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Settlement date: | May 11
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48132K2U8
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