Published on 4/21/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $106,000 contingent interest autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, April 21 – JPMorgan Chase Financial Co. LLC priced $106,000 of autocallable contingent interest notes due April 20, 2023 tied to the least performing of the Euro Stoxx 50 index, the Dow Jones industrial average and the S&P 500 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 7% 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 quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par plus any coupon due unless any index finishes below the 70% trigger level, 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: | Euro Stoxx 50 index, Dow Jones industrial average and S&P 500 index
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| Amount: | $106,000
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| Maturity: | April 20, 2023
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| Coupon: | 7% 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 plus any coupon due unless any index finishes below the trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final review dates
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| Initial levels: | 2,812.35 for Euro Stoxx, 2,799.55 for S&P and 23,537.68 for Dow
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| Interest barriers: | 1,968.645 for Euro Stoxx, 1,968.645 for S&P and 16,476.376 for Dow; 70% of initial levels
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| Trigger levels: | 1,968.645 for Euro Stoxx, 1,968.645 for S&P and 16,476.376 for Dow; 70% of initial levels
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| Pricing date: | April 16
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| Settlement date: | April 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48132KTA3
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