Published on 1/2/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.9 million review notes tied S&P, Russell, Dow
By Sarah Lizee
Olympia, Wash., Jan. 2 – JPMorgan Chase Financial Co. LLC priced $2.9 million of 0% review notes due Dec. 26, 2024 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 7% if each index closes at or above its applicable call level on any annual review date. The call level will be 92% of the initial level for each index.
If the notes are not called, 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
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| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
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| Amount: | $2,901,000
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| Maturity: | Dec. 26, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 7% per year if each index closes at or above its applicable call level on any annual review date
|
| Payout at maturity: | If not called and each index finishes at or above 70% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Initial levels: | 3,221.22 for S&P, 1,671.902 for Russell and 28,455.09 for Dow
|
| Trigger levels: | 2,254.854 for S&P, 1,170.3314 for Russell and 19,918.563 for Dow, 75% of initial levels
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| Call levels: | 92% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
|
| Cusip: | 48132FY34
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