Published on 2/9/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $450,000 autocallable yield notes on three indexes
By Kiku Steinfeld
Chicago, Feb. 10 – JPMorgan Chase Financial Co. LLC priced $450,000 of 6% autocallable yield notes due July 29, 2021 linked to the worst performing of the Nikkei 225 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
If the notes are not called, the payout at maturity will be par unless any index closes below its trigger level, 75% of its initial level, in which case investors will be fully exposed to the decline of the least 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 yield notes
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| Underlying indexes: | Nikkei 225 index, Euro Stoxx 50 index and S&P 500 index
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| Amount: | $450,000
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| Maturity: | July 29, 2021
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| Coupon: | 6% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any index ever closes below trigger level, in which case full exposure to decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly review date other than first and final dates
|
| Initial levels: | 23,343.51 for Nikkei, 3,677.84 for Euro Stoxx and 3,243.63 for S&P
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| Trigger levels: | 17,507.6325 for Nikkei, 2,758.38 for Euro Stoxx and 2,432.7225 for S&P; 75% of initial levels
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| Pricing date: | Jan. 27
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| Settlement date: | Jan. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132HWB4
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