Published on 3/23/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.44 million contingent income autocalls on indexes
By Kiku Steinfeld
Chicago, March 23 – JPMorgan Chase Financial Co. LLC priced $1.44 million of contingent income autocallable securities due March 9, 2021 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.9% if each underlying index closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon unless any index closes below 70% of its initial level on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index from 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
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Contingent income autocallable securities
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Euro Stoxx 50 index
|
Amount: | $1,440,000
|
Maturity: | March 9, 2021
|
Coupon: | 11.9% annualized, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par plus any final coupon unless any index ever finishes below its trigger level on any day during life of notes and any index finishes below its initial level, in which case exposure to losses of worst performing index
|
Call: | At par plus coupon if each index closes at or above its initial level any quarterly determination date other than final one
|
Initial levels: | 1,531.197 for Russell, 8,949.280 for Nasdaq, 3,420.56 for Stoxx
|
Coupon barriers: | 1,148.39775 for Russell, 6,711.96 for Nasdaq, 2,565.42 for Stoxx, 75% of initial levels
|
Trigger levels: | 1,071.8379 for Russell, 6,264.496 for Nasdaq, 2,394.392 for Stoxx, 70% of initial levels
|
Pricing date: | March 4
|
Settlement date: | March 9
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.225%
|
Cusip: | 48132KDF9
|
|
|
|
© 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.