Published on 1/7/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.86 million contingent interest autocallables on Dow, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – JPMorgan Chase Financial Co. LLC priced $2.86 million of autocallable contingent interest notes due June 30, 2022 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 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 6.75% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date other than the first and last ones.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 70% of 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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $2,858,000
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| Maturity: | June 30, 2022
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| Coupon: | 6.75% per year, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger value, 70% of 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 quarterly autocall review date other than first and last ones
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| Initial levels: | 8,770.979 for Nasdaq, 1,669.033 for Russell, 28,645.26 for Dow
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| Coupon barriers: | 6,139.6853 for Nasdaq, 1,168.3231 for Russell, 20,051.682 for Dow, or 70% of initial levels
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| Trigger values: | 6,139.6853 for Nasdaq, 1,168.3231 for Russell, 20,051.682 for Dow, or 70% of initial levels
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| Pricing date: | Dec. 27
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| Settlement date: | Jan. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48132HJN3
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