Published on 4/7/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $296,000 review notes tied to S&P, Russell, Nasdaq
Chicago, April 7 – JPMorgan Chase Financial Co. LLC priced $296,000 of 0% review notes due March
25, 2025 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10.75% if each index closes at or above its applicable call level on any annual review date. The call level will be 105% of the initial level on the first review date, 102.5% on the second review date and 100% on the third through the final dates.
If the notes are not called, meaning both indexes have closed below their initial levels, the payout at maturity will be par unless any underlying index falls by more than 30%, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100 index
|
| Amount: | $296,000
|
| Maturity: | March 25, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 10.75% per year if each index closes at or above 105% of the initial level on the first review date, 102.5% on the second review date and 100% on the third through the final dates
|
| Payout at maturity: | If not called, meaning indexes have closed below their initial levels, and each index finishes at or above trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Initial levels: | 2,304.92 for S&P, 1,013.889 for Russell and 6,994.291 for Nasdaq
|
| Trigger levels: | 1,613.444 for S&P, 709.7223 for Russell and 4,896.0037 for Nasdaq, 70% of initial levels
|
| Pricing date: | March 20
|
| Settlement date: | March 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132HP48
|
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