Published on 11/14/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.26 million autocallable yield notes tied to indexes
By Taylor Fox
New York, Nov. 16 – JPMorgan Chase Financial Co. LLC priced $2.26 million of 8.75% autocallable yield notes due Oct. 27, 2021 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
Beginning April 21, 2021, the notes will be called at par if each index closes at or above its initial level on any quarterly call observation date other than the final one.
The payout at maturity will be par unless any index closes below its trigger level, 68% of its initial level, on any day during the life of the notes and the return of the least-performing index is negative, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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 yield notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 and Nasdaq-100 index
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| Amount: | $2,258,000
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| Maturity: | Oct. 27, 2021
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| Coupon: | 8.75%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either index falls below trigger level during the life of the notes and final level of least-performing index is negative, in which case 1% loss for every 1% decline of worse performing index from initial level
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| Call: | At par if each index closes at or above the initial level on any quarterly observation date other than final one beginning April 21, 2021
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| Initial levels: | 28,210.82 for Dow, 11,655.37 for Nasdaq and 1,603.776 for Russell
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| Trigger levels: | 18,183.3576 for Dow, 7,932.4516 for Nasdaq and 1,090.56768 for Russell, 68% of initial levels
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| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48132PMN1
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