Published on 1/13/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.74 million callable contingent interest notes on indexes
By Sarah Lizee
Olympia, Wash., Jan. 13 – JPMorgan Chase Financial Co. LLC sold $3.74 million of callable contingent interest notes due Jan. 27, 2021 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 8.4% if each index closes at or above its interest barrier level, 75% of its initial level, on the review date for that period.
The notes will be callable at par plus any coupon on any interest payment date.
The payout at maturity will be par plus the final coupon, unless either index finishes below the 75 % trigger value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $3,735,000
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| Maturity: | Jan. 27, 2021
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| Coupon: | 8.4% annualized, payable monthly if each underlying index closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, unless either index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par on any interest payment date
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| Initial levels: | 3,265.35 for S&P, 1,657.643 for Russell and 3,789.52 for Stoxx
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| Interest barriers: | 2,449.0125 for S&P, 1,243.23225 for Russell and 2,842.14 Stoxx; or 75% of initial levels
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| Trigger values: | 2,449.0125 for S&P, 1,243.23225 for Russell and 2,842.14 Stoxx; or 75% of initial levels
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132HRT1
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