Published on 2/26/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.1 million review notes due 2026 linked to indexes, ETF
By Sarah Lizee
Olympia, Wash., Feb. 26 – JPMorgan Chase Financial Co. LLC priced $1.1 million of 0% review notes due Feb. 27, 2026 linked to the lesser performing of the iShares MSCI Emerging Markets ETF, the Nikkei 225 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10.4% if each asset closes at or above its call level on any annual review date. The call level will be 100% of each asset’s initial level for the first five review dates and 70% of each asset’s initial level for the final one.
If the notes are not called, investors will be fully exposed to any losses of the worse performing index or fund.
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: | Review notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Nikkei 225 index and Euro Stoxx 50 index
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| Amount: | $1.1 million
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| Maturity: | Feb. 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 10.4% per year if each asset closes at or above call level on annual review date; call level is 100% of each asset’s initial level for the first five review dates and 70% of each asset’s initial level for the final one
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| Payout at maturity: | If not called, full exposure to decline of least performing asset
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| Initial levels: | 3,800.38 for Stoxx, 23,386.74 for Nikkei and $43.29 for ETF
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| Final call levels: | 2,660.266 for Stoxx, 16,370.718 for Nikkei and $30.303 for ETF; 70% of initial levels
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132HG22
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