Published on 10/25/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.79 million autocallable yield notes on indexes
By Taylor Fox
New York, Oct. 26 – JPMorgan Chase Financial Co. LLC priced $1.79 million of 8.5% autocallable yield notes due Dec. 28, 2021 linked 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.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon unless any index ever closes below its 65% trigger level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
JPMorgan Chase Financial Co. LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100
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| Amount: | $1,793,000
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| Maturity: | Dec. 28, 2021
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| Coupon: | 8.5%, payable monthly
|
| Price: | Par
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on a quarterly observation date other than final one
|
| Payout at maturity: | Par plus final coupon unless any index ever closes below its trigger level during life of the notes and any index finishes below its initial level, in which case full exposure to decline of lesser performing index
|
| Initial levels: | 1,496.961 for Russell, 11,186.37 for Nasdaq, 27,288.18 for Dow
|
| Trigger levels: | 973.02465 for Russell, 7,271.1405 for Nasdaq, 17,737.317 for Dow, 65% of initial levels
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| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.975%
|
| Cusip: | 48132MV24
|
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