Published on 3/6/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $990,000 contingent interest autocalls on three indexes
By Sarah Lizee
Olympia, Wash., March 6 – JPMorgan Chase Financial Co. LLC priced $990,000 of autocallable contingent interest notes due June 2, 2021 tied to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.65% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any review other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its trigger value, 70% of its initial level, on any day during the life of the notes, 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: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $990,000
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| Maturity: | June 2, 2021
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| Coupon: | 9.65% per year, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index ever closes below its trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any review other than the first and final review dates
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| Initial levels: | 25,766.64 for Dow, 8,436.666 for Nasdaq, 1,497.870 for Russell
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| Interest barriers/triggers: | 18,036.648 for Dow, 5,905.6662 for Nasdaq, 1,048.509 for Russell; 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.40379%
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| Cusip: | 48132HL83
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