Published on 1/16/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.74 million autocallable yield notes on three stocks
By Sarah Lizee
Olympia, Wash., Jan. 16 – JPMorgan Chase Financial Co. LLC priced $1.74 million of 6% autocallable yield notes due Oct. 18, 2021 linked to the worst performing of the common stocks of Apollo Global Management, LLC, 3M Co. and Hilton Worldwide Holdings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest rate will payable monthly.
The notes will be called at par if each stock closes at or above 95% of its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its trigger level, 55% of its initial level, in which case investors will be fully exposed to the decline of the least performing stock.
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 yield notes
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Underlying stocks: | Apollo Global Management, LLC, 3M Co. and Hilton Worldwide Holdings Inc.
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Amount: | $1,738,000
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Maturity: | Oct. 18, 2021
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Coupon: | 6%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its trigger level, in which case full exposure to decline of worst performing stock
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Call: | At par if each stock closes at or above 95% of its initial level on any quarterly review date other than the final date
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Initial levels: | $49.87 for Apollo, $180.47 for 3M, $108.60 for Hilton
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Trigger levels: | $27.4285 for Apollo, $99.2585 for 3M, $59.73 for Hilton; 55% of initial levels
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Pricing date: | Jan. 14
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Settlement date: | Jan. 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.7%
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Cusip: | 48132HTR3
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