Published on 1/2/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.28 million review notes tied S&P, Russell, Dow
By Sarah Lizee
Olympia, Wash., Jan. 2 – JPMorgan Chase Financial Co. LLC priced $2.28 million of 0% review notes due Jan. 15, 2026 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10% if each index closes at or above its applicable call level on any annual review date. The call level will be 92% of the initial level for each index for the first three review dates and 98% of the initial level for each index for the remaining dates.
If the notes are not called, the payout at maturity will be par unless any underlying index falls by more than 25%, in which case investors will be fully exposed to any losses of the worst 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.
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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: | $2,283,000
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| Maturity: | Jan. 15, 2026
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 10% per year if each index closes at or above its applicable call level on any annual review date
|
| Payout at maturity: | If not called and each index finishes at or above 75% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Initial levels: | 3,221.22 for S&P, 1,671.902 for Russell and 28,455.09 for Dow
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| Trigger levels: | 2,415.915 for S&P, 1,253.9265 for Russell and 21,341.3175 for Dow, 75% of initial levels
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| Call levels: | 92% of the initial level for each index for the first three review dates and 98% of the initial level for each index for the remaining dates
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132HCL4
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