Published on 5/27/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.29 million autocallable contingent interest notes on Dow, S&P, Russell
By Kiku Steinfeld
Chicago, May 27 – JPMorgan Chase Financial Co. LLC priced $1.29 million of autocallable contingent interest notes due Aug. 25, 2021 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 18.15% if each index closes at or above its 70% interest barrier on the related quarterly review date.
The notes will be 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 final date.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
|
Amount: | $1,291,000
|
Maturity: | Aug. 25, 2021
|
Coupon: | 18.15%, payable each quarter that each index closes at or above its coupon barrier on the related quarterly review date
|
Price: | Par
|
Payout at maturity: | Par unless any index finishes below its trigger level, in which case investors will be fully exposed to any losses of the worst performing index
|
Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final date
|
Initial levels: | 24,575.90 for Dow, 1,346.927 for Russell and 2,971.61 for S&P
|
Coupon barriers: | 17,203.13 for Dow, 942.8489f or Russell and 2,080.127 for S&P; 70% of initial levels
|
Trigger levels: | 17,203.13 for Dow, 942.8489f or Russell and 2,080.127 for S&P; 70% of initial levels
|
Pricing date: | May 20
|
Settlement date: | May 26
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 0.4386%
|
Cusip: | 48132KL60
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.