Published on 12/19/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.6 million contingent interest autocallables on Stoxx, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – JPMorgan Chase Financial Co. LLC priced $6.6 million of autocallable contingent interest notes due June 21, 2021 linked to the least performing of the Dow Jones industrial average, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 6.5% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first, second and final dates.
If the notes have not been called, the payout at maturity will be par unless any index closes below its trigger value, 70% of its initial level, on any day during the life of the notes, and any index finishes below its initial level, in which case investors will lose 1% for every 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $6,596,000
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| Maturity: | June 21, 2021
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| Coupon: | 6.5% per year, payable monthly if each index closes at or above coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger value, 70% of its initial level, on any day during the life of the notes, and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than the first, second and final dates
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| Initial levels: | 28,235.89 for Dow, 1,649.939 for Russell, 3,772.74 for Stoxx
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| Coupon barriers: | 19,765.123 for Dow, 1,154.9573 for Russell, 2,640.918 for Stoxx, or 70% of initial levels
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| Trigger values: | 19,765.123 for Dow, 1,154.9573 for Russell, 2,640.918 for Stoxx, or 70% of initial levels
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.175%
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| Cusip: | 48132HJD5
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