Published on 1/29/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.62 million review notes tied to three indexes
By Sarah Lizee
Olympia, Wash., Jan. 29 – JPMorgan Chase Financial Co. LLC priced $1.62 million of 0% review notes due Jan. 29, 2025 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 8.75% if each index closes at or above its applicable call level on any annual review date. The call level will be 95% of the initial level for each index.
If the notes are not called, the payout at maturity will be par unless any underlying index falls by more than 30%, 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.
|
| Issue: | Review notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
|
| Amount: | $1.62 million
|
| Maturity: | Jan. 29, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 8.75% 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 trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Initial levels: | 3,295.4 for S&P, 1,662.232 for Russell and 28,989.73 for Dow
|
| Trigger levels: | 2,306.829 for S&P, 1,163.5624 for Russell and 20,292.811 for Dow, 70% of initial levels
|
| Call levels: | 95% of the initial level for each index
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132HPZ9
|
|
|
© 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.
