Published on 4/14/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $520,000 contingent interest autocalls on Dow, Nasdaq, S&P
Chicago, April 14 – JPMorgan Chase Financial Co. LLC priced $520,000 of autocallable contingent interest notes due April 9, 2021 tied to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 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 12.1% per year if each index closes at or above its interest barrier level, 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 plus any coupon due unless any index finishes below its 65% trigger 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: | Nasdaq-100 index, Dow Jones industrial average and S&P 500 index
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| Amount: | $520,000
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| Maturity: | April 9, 2021
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| Coupon: | 12.1% per year, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the final review date
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| Initial levels: | 21,413.44 for Dow, 7,635.658 for Nasdaq and 2,526.90 for S&P
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| Interest barriers: | 14,989.408 for Dow, 5,344.9606 for Nasdaq and 1,768.83 for S&P; 70% of initial levels
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| Trigger levels: | 13,918.736 for Dow, 4,963.1777 for Nasdaq and 1,642.485 for S&P; 65% of initial levels
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| Pricing date: | April 2
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| Settlement date: | April 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.71058%
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| Cusip: | 48132KQP3
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