Published on 11/27/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.7 million autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Nov. 27 – JPMorgan Chase Financial Co. LLC priced $1.7 million of autocallable contingent interest notes due Nov. 16, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 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 8.15% if each index closes at or above its 70% interest barrier on the related quarterly review date.
After one year, 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 date.
The payout at maturity will be par plus the coupon unless any index finishes below its 70% trigger level, in which case investors will be fully exposed to the losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Nasdaq-100, Russell 2000 and Dow Jones industrial average
|
| Amount: | $1,700,000
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| Maturity: | Nov. 16, 2023
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| Coupon: | 8.15% annual rate, payable each quarter that each index closes at or above its interest barrier on the review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless any index finishes below its trigger level, in which case investors will be exposed to the losses of the worst performing index
|
| Call: | After one year, automatically at par plus coupon if each index closes at or above its initial level on any quarterly review date other than final date
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| Initial levels: | 8,259.813 for Nasdaq-100, 1,589.179 for Russell and 27,783.59 for Dow
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| Interest/coupon barriers: | 5,781.8691 for Nasdaq-100, 1,112.4253 for Russell and 19,448.513 for Dow, 70% of initial values
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| Trigger levels: | 5,781.8691 for Nasdaq-100, 1,112.4253 for Russell and 19,448.513 for Dow, 70% of initial values
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 18
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
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| Cusip: | 48132FL20
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