Published on 11/7/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 digital notes on indexes, ETF
By Kiku Steinfeld
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% digital notes due Oct. 20, 2020 linked to the Russell 2000 index, the S&P 500 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
A trigger event occurs if any asset closes below its trigger value, 60% of its initial value, on any day during the life of the notes.
If a trigger event has not occurred, the payout at maturity will be par plus the contingent digital return of 6.4%.
If a trigger event has occurred but each asset finishes at or above its initial value, the payout will be par.
Otherwise, investors will be fully exposed to any decline of the worst performing asset.
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: | Digital notes
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| Underlying assets: | Russell 2000 index, S&P 500 index, iShares MSCI EAFE ETF
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| Amount: | $500,000
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| Maturity: | Oct. 20, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each asset closes at or above trigger value every day during life of notes, par plus 6.4%; if any asset closes below its trigger value on any day during life of notes but each asset finishes at or above initial value, par; otherwise, 1% loss for each 1% decline of worst performing asset
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| Initial values: | 1,472.598 for Russell, 2,847.60 for S&P, $63.49 for EAFE ETF
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| Trigger values: | 883.5588 for Russell, 1,735.836 for S&P, $38.094 for EAFE ETF; 60% of initial values
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48132FXW1
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