Published on 3/19/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $7.5 million autocallable jump securities on three indexes
By Sarah Lizee
Olympia, Wash., March 19 – JPMorgan Chase Financial Co. LLC priced $7.5 million of 0% jump securities with autocallable feature due March 17, 2025 tied to the worst performing of the Russell 2000 index, Euro Stoxx 50 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual premium of 14% if each index closes at or above the its call level on any quarterly review date after one year. The call level for each index will be 100% of the initial level.
The payout at maturity will be par plus 70% if each index finishes at or above its 80% of its initial level.
If either index falls by up to 40%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index.
J.P. Morgan Securities LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index and S&P 500 index
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| Amount: | $7.5 million
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| Maturity: | March 17, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 14% if each index closes at or above the its call level on any quarterly review date after one year; call level for each index will be 100% of the initial level
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| Payout at maturity: | Par plus 70% if each index finishes at or above its maturity redemption threshold level; if either index falls by up to downside threshold, par; otherwise, investors will be fully exposed to the decline of the least performing index
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| Initial levels: | 1,264.296 for Russell, 2,741.38 for S&P, 2,545.23 for Stoxx
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| Maturity redemption threshold levels: | 1,011.4368 for Russell, 2,193.104 for S&P, 2,036.184 for Stoxx; 80% of initial levels
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| Downside thresholds: | 758.5776 for Russell, 1,644.828 for S&P, 1,527.138 for Stoxx; 60% of initial levels
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| Pricing date: | March 12
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| Settlement date: | March 17
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| Agent: | J.P. Morgan Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.6%
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| Cusip: | 48132KKE4
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