Published on 10/7/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $510,000 contingent interest autocalls on indexes
By Sarah Lizee
Olympia, Wash., Oct. 7 – JPMorgan Chase Financial Co. LLC priced $510,000 of autocallable contingent interest notes due Jan. 5, 2021 linked to the lesser performing of the Nasdaq-100 index, the Russell 2000 index and Euro Stoxx 50 index according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay contingent interest at an annual rate of 10.25% if each index closes at or above its 75% interest barrier on the related quarterly review date.
The notes will be called at par plus the contingent interest payment if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus any contingent interest payment due unless any index finishes below its initial level and any index has ever closed below its 75% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Russell 2000, Euro Stoxx 50 and Nasdaq-100
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Amount: | $510,000
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Maturity: | Jan. 5, 2021
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Contingent interest payment: | 10.25%, payable each quarter that each index closes at or above its interest barrier on the related quarterly review date
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Price: | Par
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Payout at maturity: | Par plus any contingent interest payment due unless any index finishes below its initial level and any index has ever closed below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index
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Call: | Automatically at par plus the contingent interest payment if each index closes at or above its initial level on any quarterly review date, other than the final one
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Initial levels: | 7,749.449 for Nasdaq, 1,523.373 for Russell and 3,569.45 for Stoxx
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Interest barriers: | 5,812.08675 for Nasdaq, 1,142.52975 for Russell and 2,677.0875 for Stoxx, 75% of initial levels
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Trigger levels: | 5,812.08675 for Nasdaq, 1,142.52975 for Russell and 2,677.0875 for Stoxx, 75% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48132FPU4
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