Published on 8/27/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.12 million review notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Aug. 27 – JPMorgan Chase Financial Co. LLC priced $1.12 million of 0% review notes due Aug. 28, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 7.75% per year if each index closes at or above its call value, 92% of its initial level, on any of five annual review dates.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
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| Amount: | $1.12 million
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| Maturity: | Aug. 28, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final level of each index is greater than or equal to trigger value; otherwise, 1% loss for each 1% that least-performing index finishes below initial level
|
| Call: | Automatically at par plus call premium of 7.75% per year if each index closes at or above 92% of initial level on Aug. 27, 2020, Aug. 23, 2021, Aug. 23, 2022, Aug. 23, 2023 or Aug. 23, 2024
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| Initial levels: | 2,847.11 for S&P 500, 1,459.485 for Russell 2000 and 25,628.90 for Dow
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| Trigger values: | 1,992.977 for S&P 500, 1,021.6395 for Russell 2000 and 17,940.23 for Dow, or 70% of initial levels
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| Pricing date: | Aug. 23
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| Settlement date: | Aug. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48132CD42
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