Published on 8/29/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.45 million contingent interest notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Aug. 29 – JPMorgan Chase Financial Co. LLC priced $3.45 million of callable contingent interest notes due Aug. 30, 2024 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 5.5% per year if each index closes at or above its trigger value, 60% of its initial level, on the review date for that quarter.
The notes are callable at par on any interest payment date other than the first and final interest payment dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, in which case 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
|
| Amount: | $3,448,000
|
| Maturity: | Aug. 30, 2024
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| Coupon: | 5.5% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, in which 1% loss for every 1% that least-performing index finishes below initial level
|
| Call option: | At par on any interest payment date other than first and final interest payment dates
|
| Initial levels: | 25,777.90 for Dow, 1,456.039 for Russell 2000 and 2,869.16 for S&P 500
|
| Trigger values: | 15,466.74 for Dow, 873.6234 for Russell 2000 and 1,721.496 for S&P 500, or 60% of initial levels
|
| Pricing date: | Aug. 27
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| Settlement date: | Aug. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48132FAJ5
|
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