Published on 6/26/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 digital notes linked to Dow, Russell, S&P
By Sarah Lizee
Olympia, Wash., June 26 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% digital notes due June 25, 2021 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its digital barrier, 80% of its initial level, the payout will be par plus 13%.
If either index falls below 80% of its initial level but not by more than its trigger level, 70% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index.
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: | Digital notes
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| Underlying indexes: | Russell 2000, S&P 500 and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | June 25, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its digital barrier, par plus 13%; if either index falls below trigger level, par; otherwise, investors will be fully exposed to the decline of the least performing index
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| Initial levels: | 3,097.74 for S&P, 1,418.634 for Russell and 25,871.46 for Dow
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| Digital barrier levels: | 2,478.192 for S&P, 1,134.9072 for Russell and 20,697.168 for Dow; 80% of initial levels
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| Trigger levels: | 2,168.418 for S&P, 993.0438 for Russell and 18,110.022 for Dow; 70% of initial levels
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| Pricing date: | June 19
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| Settlement date: | June 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48132MLC3
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