Published on 10/9/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 callable contingent interest notes on indexes
By Sarah Lizee
Olympia, Wash., Oct. 9 – JPMorgan Chase Financial Co. LLC sold $500,000 of callable contingent interest notes due Oct. 4, 2024 linked to the lesser performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 5.2% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be callable at par on any interest payment date other than the first, second, third and final ones.
The payout at maturity will be par plus the final coupon, unless any index finishes below the 50% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
|
| Amount: | $500,000
|
| Maturity: | Oct. 4, 2024
|
| Coupon: | 5.2% annualized, payable quarterly if each underlying index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par on any quarterly interest payment date other than the first, second, third and final ones
|
| Initial levels: | 26,573.04 for Dow, 7,684.142 for Nasdaq and 1,493.432 for Russell
|
| Interest barriers: | 18,601.128 for Dow, 5,378.8994 for Nasdaq and 1,045.4024 for Russell, 70% of initial levels
|
| Trigger values: | 13,286.52 for Dow, 3,842.071 for Nasdaq and 746.716 for Russell, 50% of initial levels
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 48132FTK2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
