Published on 12/22/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $546,000 contingent interest autocalls tied to Russell, S&P, Stoxx
By Kiku Steinfeld
Chicago, Dec. 23 – JPMorgan Chase Financial Co. LLC priced $546,000 of autocallable contingent interest notes due March 22, 2021 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.15% per year if each index closes at or above interest barrier, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any index closes below its trigger value, 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 lose 1% for every 1% that the least-performing index finishes below 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
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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, S&P 500 and Euro Stoxx 50
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| Amount: | $546,000
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| Maturity: | March 22, 2021
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| Coupon: | 7.15% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger value on any day during the life of notes, and any index finishes below its initial level, in which case 1% loss for every 1% that least-performing index finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | 1,657.564 for Russell 2000, 3,192.52 for S&P 500 and 3,745.28 for Euro Stoxx 50
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| Interest barrier/trigger values: | 1,160.2948 for Russell 2000, 2,234.764 for S&P 500 and 2,621.696 for Euro Stoxx 50, or 70% of initial levels
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| Pricing date: | Dec. 17
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| Settlement date: | Dec. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.1%
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| Cusip: | 48132HJG8
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