Published on 7/23/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.22 million autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, July 23 – JPMorgan Chase Financial Co. LLC priced $3.22 million of 11% autocallable yield notes due July 26, 2023 linked to the worst performing of the common stocks of Stanley Black & Decker, Inc., Centene Corp. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest rate will payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its trigger level, 50% of its initial level, in which case investors will be fully exposed to the decline of the least performing stock.
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 stocks: | Stanley Black & Decker, Inc., Centene Corp. and MetLife, Inc
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Amount: | $3,215,000
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Maturity: | July 26, 2023
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Coupon: | 11%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its trigger level, in which case full exposure to decline of worst performing stock
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Call: | At par if each stock closes at or above its initial level on any quarterly review date other than the final date
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Initial levels: | $153.79 for Stanley Black & Decker, $65.87 for Centene, $38.32 for MetLife
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Trigger levels: | $76.895 for Stanley Black & Decker, $32.935 for Centene, $19.16 for MetLife; 50% of initial levels
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Pricing date: | July 21
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Settlement date: | July 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.25%
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Cusip: | 48132MSC6
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